- Analyst Hrithik said RAVE “continues to crime pump” before later posting that it had crashed from $25 to $11.
- Analyst Nebraskangooner highlighted the weekly candlestick after the reversal, noting the size of the upper wick.
- CoinGlass data shows market cap falling to about $2.82 billion after earlier trading above $6 billion and briefly near $7 billion.
RAVE surged hard before crashing within hours, wiping out a large part of the day’s gains and leaving behind a deeply damaged chart. On X, analyst Hrithik first warned that “$RAVE continues to crime pump” and added that he had “seen this movie many times: the team holds all of it; they crime it to hell.” At that stage, his chart showed RAVE near $23.40, up 24.9% on the day.
Later, Hrithikk posted a second update saying, “$RAVE just crashed from $25 to $11.” That warning aligned with the intraday breakdown visible across the price charts, where the token moved from a euphoric peak into a near-vertical selloff.
Analyst Flags the Move Before and After the Collapse
The X posts from Hrithik capture both sides of the reversal. In the first post, the token was still holding near the highs, and the market was celebrating the rally. In the second, the move had already broken down, confirming that the late-stage momentum failed to hold.
The price chart shows RAVE pushing through the mid-teens, accelerating above $20, and peaking near $27 to $28.30 before sellers overwhelmed the move. The same chart later marked a low near $11.31, showing how quickly the rally collapsed once supply hit the market.
That kind of move usually signals a blow-off top rather than a normal retracement. Buyers chased the breakout higher, but the market could not absorb the selling pressure once the reversal started.
Analyst Highlights the Damage on the Weekly Candle
Another analyst, Nebraskangooner, posted the weekly chart and asked, “What do you call this weekly candle?” His chart showed RAVE around $13.41 after the collapse, with a huge upper wick left behind from the failed surge.
That weekly structure matters. It shows the move was not just noisy intraday action. It was large enough to distort the higher-timeframe candle and leave a visible rejection at the top. In practical terms, that kind of wick often serves as a reminder that aggressive upside attempts met with equally aggressive selling.
Additionally, Nebraskangooner’s chart reinforces the idea that the market rejected the breakout area rather than consolidating above it.
Market Cap and Technicals Still Show Unstable Footing
The Coinglass chart shows how severe the unwind became. RAVE’s market cap briefly traded near $7 billion before falling sharply to about $2.82 billion. That means billions in value disappeared during the reversal.
Source: Coinglass
At the time of writing, TradingView showed RAVE/USDT perpetuals around $10.52, after an intraday rebound off the $9.74 low. The chart showed Bollinger levels near $10.26 and $10.82, which now define the immediate range.
MACD turned slightly positive on the rebound, but both lines remained below zero. That means momentum improved from deeply negative conditions, not from a position of strength. For now, RAVE is trying to stabilize, but the main signal remains the same.
Related: RaveDAO Surges to $27.94 ATH as ZachXBT Alleges Market Manipulation
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