REV Technical Analysis: Price Above the Second Fibonacci Pivot Resistance Level of $0.00648, Lookout for $0.00651

Revain is a public blockchain network that fosters transparency by allowing users to browse, rate, and review many brands. It uses AI technology to filter out low-quality reviews and reward top-quality reviews. It also audits the reviews for plagiarism and other criteria before publishing. REV is the native token of this ecosystem. Let us look at the technical analysis for REV.

Past Performance

On Jul 19, 2021, REV opened at $0.0069. On Jul 25, 2021, REV closed at $0.0064. Thus, in the past week, the REV price has decreased by roughly 7%. In the last 24 hours, REV has traded between $0.0064-$0.0065.

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Day-Ahead and Tomorrow

Currently, REV is trading at $0.0069. The price has increased from the day’s opening price of $0.0064. Thus, the market seems bullish.

The MACD and signal lines are turning positive. Moreover, a bullish crossover by the MACD line over the signal line has occurred. Thus, the overall market momentum is turning bullish. Hence, we can expect the price to rise further.

Currently, the RSI indicator is at 50%. It faced rejection at 45% and rose to the current level. Hence, buying pressures are mounting. High buying activity will exert upward pressure on the REV price.

Besides, the OBV indicator is upward sloping. Thus, buying volumes are higher than selling volumes. Hence, the price may increase further. In short, when we look at all three oscillators together, we can say that the overall market momentum is bullish.

REV Technical Analysis

Currently, the price is above the second Fibonacci pivot resistance level of $0.00648. The price may soon surpass the third Fibonacci pivot resistance level of $0.00651.

The price has tested and risen above the 23.6% FIB retracement level of $0.00646. It may break out of the 23.6% FIB extension level of $0.0065 as well. Thus, as of now, the bulls seem strong. Hence, we can expect the price uptrend to continue tomorrow as well.