RAVE surges 80% as whale withdraws 10M tokens — eyes $0.70 neckline breakout
RaveDAO (RAVE) rallied more than 80% in a week after a Bitget whale withdrew 10 million RAVE (~$6.56M), tightening exchange liquidity and supporting buying pressure. At publication RAVE traded around $0.63 after strong daily candles and short-term pullback near resistance. Technical structure shows a rounded bottom formed from a $0.30 base, reclaimed $0.50 and stabilized above $0.575, with the key neckline at $0.70. MACD has crossed bullish and Open Interest rose 29.2% to $46.7M, indicating rising leveraged speculative commitment. Liquidation heatmaps show dense leverage between $0.70–$0.75 and further liquidity toward $0.78, while downside pools sit near $0.60 and $0.55. A daily close above $0.70 could trigger liquidation-driven acceleration toward $0.75–$0.78; failure to hold above $0.575 risks a drop back to $0.49–$0.50. Traders should watch exchange balances, OI, and liquidation clusters for breakout confirmation or a resistance rejection.
Bullish
The article points to bullish technical and on-chain signals: a large whale withdrawal removed immediate exchange supply, price formed a credible rounded bottom from $0.30 to $0.575 and is testing a $0.70 neckline, and Open Interest rose ~29% to $46.7M indicating growing leveraged long exposure. Liquidation clusters sit above the neckline, meaning a successful breakout could be fuelled by short squeezes and forced long rotations that accelerate upside toward $0.75–$0.78. Short-term risk remains — failure to hold $0.575 or a strong rejection at $0.70 could trigger deleveraging and a pullback toward $0.49–$0.50 — but overall signals favor bulls while structural support holds. This pattern mirrors prior cases where large off-exchange withdrawals and rising OI preceded rapid moves (e.g., altcoin squeezes after exchange outflows), making a bullish breakout the higher-probability scenario for traders watching liquidity, OI, and daily close above the neckline.