REVUSDT Falling Wedge still in effect

15 Des 2022

Revain (REVUSDT) has been trading within a Falling Wedge since the May 12 Low. Today the price broke above the 1D MA50 (blue trend-line) again but that alone isn't bullish as it remains within the Wedge. A break above its top should be enough to target the 0.000850 Resistance but only a break above the 1D MA200 (orange trend-line) can extend it. In that case we will be bullish all the way to the 2.0 Fibonacci extension at 0.001500.

Notice the LMACD indicator and the clear Resistance level is has since late June. A break above it can be the trigger for the buy signal above the Falling Wedge.


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