A month of red and still no floor in sight — that's $RAIN right now, down another 5.5% near $0.0058 today and off about 46% over the last 30 days, while $BTC just sits flat near $75,971.
The why looks supply-driven, not headline-driven: roughly 36 million tokens — about $217M worth — unlock on November 12, and the October slide was already tied to those incoming releases. No fresh project news is pushing this; it's the overhang doing the work, on only about $12M in daily volume.
The level I'm watching is $0.0055, right near today's low. Hold it and a bounce attempt toward $0.0062 wouldn't surprise me; lose it and the slide probably keeps going into that unlock.
Would you touch a name with a $217M unlock five days out, or is this one strictly watch-from-the-sidelines for you?
#Rain #CryptoMarket #BinanceSquare
The why looks supply-driven, not headline-driven: roughly 36 million tokens — about $217M worth — unlock on November 12, and the October slide was already tied to those incoming releases. No fresh project news is pushing this; it's the overhang doing the work, on only about $12M in daily volume.
The level I'm watching is $0.0055, right near today's low. Hold it and a bounce attempt toward $0.0062 wouldn't surprise me; lose it and the slide probably keeps going into that unlock.
Would you touch a name with a $217M unlock five days out, or is this one strictly watch-from-the-sidelines for you?
#Rain #CryptoMarket #BinanceSquare