Post
$RAVE 📊
The trading volume for this currency is significantly high, and the liquidity pressure in buying and selling movements plays a major role in its rapid fluctuations.
Currently, the resistance is at the price of $16. Of course, if it continues to rise and manages to stay above the current resistance, the rise will continue until the next resistance at $21.80, and if it can also hold above $21.80, there is no obstacle to continuing the rise up to $27.50.
However, the risk in this currency will be very high at these prices, and why? Because the movement will be very fast, and liquidations in futures contracts and financing will play a role, and people's losses in futures contracts will be very significant. The candles will be moving under the pressure of trading activity in buying and selling.
Therefore, I see with my knowledge and perspective on the chart 🧐, and Allah knows best 🤍. Of course, on the 2-hour - 4-hour frame, if the currency drops and does a retest from the current prices, it may reach the support area from $6.24 to $5.18, and then the currency may rebound quickly up to the resistance at $9.666, and it may also reach the resistance at $12.60 with the same speed of rebound on the consecutive candles. Here it will be considered a low-risk opportunity after reducing the risk for rapid trading (scalping), and of course, a stop-loss should be placed below $5.00 at the close of a four-hour candle.
The trading volume for this currency is significantly high, and the liquidity pressure in buying and selling movements plays a major role in its rapid fluctuations.
Currently, the resistance is at the price of $16. Of course, if it continues to rise and manages to stay above the current resistance, the rise will continue until the next resistance at $21.80, and if it can also hold above $21.80, there is no obstacle to continuing the rise up to $27.50.
However, the risk in this currency will be very high at these prices, and why? Because the movement will be very fast, and liquidations in futures contracts and financing will play a role, and people's losses in futures contracts will be very significant. The candles will be moving under the pressure of trading activity in buying and selling.
Therefore, I see with my knowledge and perspective on the chart 🧐, and Allah knows best 🤍. Of course, on the 2-hour - 4-hour frame, if the currency drops and does a retest from the current prices, it may reach the support area from $6.24 to $5.18, and then the currency may rebound quickly up to the resistance at $9.666, and it may also reach the resistance at $12.60 with the same speed of rebound on the consecutive candles. Here it will be considered a low-risk opportunity after reducing the risk for rapid trading (scalping), and of course, a stop-loss should be placed below $5.00 at the close of a four-hour candle.
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