Revain was founded in <b>2018</b> by Rinate Arsalanov and is currently located in Moscow, Russia. The Revain team was originally funded through a crowdsale in August 2017, raising about an equivalent of $8.5 million by selling R tokens to build its platform. Let us <a href="https://www.cryptoknowmics.com/news/rev-technical-analysis-forming-new-highs-at-0-03-look-for-a-short-bull-run/">look</a> at the technical analysis of REV.
<h2><b>Past Performance</b></h2>
The previous week started for REV with an open at $0.0178 on October 6, 2021. The price chart formed a valley, and it closed yesterday at $0.018. There was an overall change of +1.1% across the week.

<img class="tv-snapshot-image" src="https://s3.tradingview.com/snapshots/s/se1U2pPN.png" alt="TradingView Chart" />

Source: <a href="https://www.tradingview.com/x/se1U2pPN/">https://www.tradingview.com/x/se1U2pPN/</a>
<h2><b>REV Technical Analysis
</b></h2>
The first half of the week witnessed lower lows and the price went down. Then it took a crucial support at $0.015 and the trend reversed itself. However, the price is not able to break the resistance at $0.02 yet.

Currently, REV is trading at $0.019, which is 5.74% up from yesterday’s close. The price chart is showing strong bullish signals.

<strong>OBV</strong> is on an uptrend for the last few days. This means that the buying pressure is consistently dominating the selling pressure. This uptrend can be seen as a strong bullish signal. Traders may take a long position here.

<strong>RSI’s</strong> trend has also reversed itself. It is currently above the equilibrium at 55.18%. This is again a strong bullish signal. Traders may take a call for a long position.

<strong>MACD</strong> is showing the blue line’s cross over to the slow line. This confirms the last week’s reversal in the trend. It is also a strong signal to enter the market. Thus, traders may take a long position or hold their existing positions.
<h2><b>Day-Ahead and Tomorrow</b></h2>
<strong>Fib Retracement</strong> shows that the REV price chart has crossed the <strong>Fibonacci resistance level</strong> at $0.019. This is again a strong bullish signal.

Thus, traders may take a long position as all the indicators are showing bullish signals. The target can be placed at $0.022 and the stop loss at $0.018. However, the trend may reverse itself after hitting the current resistance at $0.02.

REV Technical Analysis: Price Yet to Break the Resistance at $0.02

Revain (REV) Fib Retracement shows that the price chart has crossed the Fibonacci resistance level at $0.019. This is again a strong bullish signal. Thus, traders may take a long position as all the indicators are showing bullish signals. The target can be placed at $0.022 and the stop loss at $0.018. However, the trend may reverse itself after hitting the current resistance at $0.02. 

Ankita is reading geek by birth, she loves to read and write about finance and now cryptocurrencies and blockchain since 2017. A Bitcoin enthusiast ever since, she likes to understand businesses and how they affect everything else. Ankita contributes on our news bulletin with the latest happening in blockchain, crypto and ICO market specifically.

REV Technical Analysis: Price Yet to Break the Resistance at $0.02

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