Revain is a highly transparent blockchain network that allows users to rate and review brands. The network harnesses the power of AI to filter out unrelated or low-quality reviews and confers the “expert” badge to users with a large number of high-quality reviews. Thus, users can get an opportunity to be an influencer for boosting online brand reputation. REV is the in-house token of this ecosystem. The REV technical analysis is as follows:

Past Performance

On May 28, 2021, REV opened at $0.01. On Jun 3, 2021, REV closed at $0.012. Thus, in the past week, the REV price has increased by approximately 20%. In the last 24 hours, REV has traded between $0.012-$0.0124.

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Day-Ahead and Tomorrow

Currently, REV is trading at $0.012. The price has decreased from the day’s opening price of $0.0123. Thus, the market seems bearish.

The MACD and signal lines are negative. Thus, the overall market momentum is bearish. However, as of now, the MACD and signal lines have converged. We have to wait and watch if a bullish or bearish crossover by the MACD line over the signal line occurs.

Currently, the RSI indicator is at 41%. It faced rejection at 36% and rose to this level. Thus, buying pressures are slowly mounting. Hence, the price may start rising in some time.

However, the OBV indicator has fallen steeply. Thus, selling volumes are higher than buying volumes. High selling activity will exert downward pressure on the REV price.

In short, when we look at all three oscillators together, we can say that the overall market momentum is bearish. However, intermittent price rises amidst the bearish trend as a corrective price action may occur.

REV Technical Analysis

Currently, the price is below the Fibonacci pivot point of $0.0122. The price may soon fall below the first Fibonacci pivot support level of $0.0121. If the bears remain strong, then the price is likely to fall below the subsequent support levels of $0.012 and $0.0118, respectively, by day close.

The price has tested and fallen below the 23.6% FIB retracement level of $0.0121. The price is soon likely to test and fall further below the 23.6% FIB extension level of $0.0119. Thus, as of now, the price downtrend is strong. Hence, the price may continue to fall today and tomorrow.