It is not entirely normal nor abnormal for altcoins to rise in value during this extended bear market. In the case of Revain, the uptrend appears to be genuine, even though the trading volume might not be sufficient to sustain the uptrend much longer. The altcoin also gets a lot of flack on social media for its current trading behavior, which is never a good sign.
Revain Price Uptrend Takes Shape
It has been a while since people actively discussed Revain, primarily because there isn’t much to discuss right now. In fact, there isn’t much going on with this altcoin at all, other than its price rising all of a sudden for no apparent reason. As is usually the case in crypto and, that price behavior raises a lot of questions which aren’t easy to answer at this time.
Over the past 24 hours, there has been a solid Revain price uptrend in USD, BTC, and ETH value alike. The 11.5% gain in USD value is the biggest selling point right now, but there is also a 15% gain over both Bitcoin and Ethereum to take into account. All of this is happening with just $2.5m in 24hour trading volume, which is one of the reasons so many traders are concerned about this trend’s longevity.
Speaking of the Revain trading platform, most of it seems to originate from the DragonEx exchange. BTC-Alpha comes in second place, although OKEx, the biggest altcoin exchange on this list, generated far less volume. As such, it seems unlikely the Revain price will remain at this level.
In fact, it would appear Idlecancrian goes as far as claiming Revain is one of the coins which has a “mostly fake volume” at this time That is a very serious allegation, although it is true there is some abnormal trading behavior going on. Even so, one has to wonder if this will be a problem in the long run. People who make money with R won’t care either way, which is only to be expected.
— idlecancerian (@IdleAAMIR) December 14, 2018
When a specific altcoin becomes subject to multiple signals from a pump-and-dump group, one knows it may be best to avoid said currency at this time. CryptoDealingDesk has issued multiple Revain price alerts over the past few days, which only further confirms this altcoin is mainly the target of pump groups, rather than actual traders. That can become a problem for its future appeal, though.
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— CryptoDealingdesk (@cryptodealingd) December 12, 2018
Given the overall bearish market trend, the developments affecting Revain are very noteworthy. That is not necessarily a good thing by any means, although there is some money to be made regardless. As such, one has to wonder how long this trend will remain in place, and where the Revain price will end up at in a few hours from now.
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.