When the cryptocurrency markets turn bullish, it usually happens in spectacular fashion. For some altcoins, this also means major gains can be established in fairly quick succession without too many problems. The Revain price, for example, has noted some ridiculous gains in the past few hours. How long that situation will remain in place, is very difficult to predict under the current circumstances.
Revain Price Trend is Unsustainable
The cryptocurrency industry is well-known for its volatile market trends first and foremost. This volatility can lead to massive gains, but also incredibly steep losses. For Revain, the momentum is incredibly positive right now, although that may not necessarily remain the case for much longer. Any time such major gains are established, there will be a very sharp correction shortly afterward. This current gain will always trigger a decline sooner or later.
To put this in perspective, the Revain price has gained 45% in USD value over the past few hours. There is also a 38% increase in the BTC and ETH value. Although these gains are rather interesting, one also has to acknowledge the uptrend materializes with just $2.3m in 24-hour trading volume. That will not be sufficient to keep the trend going for much longer. This is especially apparent when looking at the hourly charts, which look rather weak for both Bitcoin and Ethereum right now.
When looking at the Twitter activity pertaining to Revain, all discussions relate tot he price first and foremost. Zignals 24x7m, another pump signal group, is currently taking a very close look at what this altcoin may be capable of moving forward. Even so, when a massive uptrend materializes for this altcoin, it is often met with one or several equally large red candles. It seems unlikely today’s trend will fare any better in this regard.
🆃🅷🅴 🆂🅴🅲🆁🅴🆃 🅸🆂 🅾🆄🆃
𝗘𝗳𝗳𝗼𝗿𝘁𝗹𝗲𝘀𝘀 𝗔𝗯𝘂𝗻𝗱𝗮𝗻𝗰𝗲 (day)
— Zignals 24 x 7 (@zignals24x7) December 17, 2018
Good Cat is another firm believer who thinks Revain is currently vastly undervalued despite its current price trend. Although there is an argument to be made how all currencies and assets are massively oversold right now, Revain’s exact real-life use cases have yet to be unlocked at this point. Until that happens, it becomes another speculative asset first and foremost, rather than a coin undervalued despite its technical prowess.
— good cat (@goooooodcat) December 17, 2018
The spectacular Revain price rise has not gone by unnoticed on Twitter by any means. Crypto Gulp shows Revain is the strongest gainer in the past 24 hours, albeit this only further highlights the rather weak trading volume associated with this altcoin. Until that volume picks up in spectacular fashion, the current gains may be very difficult to lock in place first and foremost.
Out of the top 💯 #CryptoCurrencies, most gainer in the last 24h was… 🥁
💲 Current Price : $0.179737796
🚀 Increased by : 40.45%
💵 Market Cap : $87.1 million
💱 Trading Volume: $2.3 million
Check it out 👇https://t.co/KuFsiB9Bev
— Crypto Gulp (@CryptoGulp) December 17, 2018
For the time being, the Revain price gains primarily rely on positive spells for both Bitcoin and Ethereum. If and when that uptrend falls apart – which seems to be a matter of time right now – the massive R price correction will be a sight to behold. Until then, chasing the top is probably the worst approach for traders, although the bull run may continue after a brief retrace as well.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.
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