Revain Rallies by 18% but Long-Term Trend Remains Negative

The broader cryptocurrency market has continued to underperform in recent weeks, with the prices of most coins in the red zone. However, some cryptocurrencies have been performing excellently despite the bearish trend.

Revain Rallies Despite Poor Market Performances

Revain is an online platform for  Ethereum blockchain-based tokens reviews. The platform is designed to enable developers to receive constructive feedback regarding their projects. It also incentivizes authors of the reviews to provide high-quality reviews.

The broader crypto market has been underperforming in recent weeks, with Bitcoin still struggling below the $50k level heading into the end of 2021. However, Revain has been one of the best performers over the past few hours.

Revain has added more than 18% to its value over the past 24 hours, making it one of the best performers amongst the top 100 cryptocurrencies by market cap. At press time, Revain is trading at $0.0090 per coin.

Revain claims to be the first platform to combine the features of blockchain technology and traditional review websites. The ultimate goal of the project is to create a legitimate and genuine feedback structure for products and services that use emerging technologies like blockchain, machine learning and the Internet of Things (IoT). Revain is known to use artificial intelligence tools and a manual review system to ensure that the reviews are of high quality.

REV’s Long-Term Trend Remains Negative

Despite the recent surge in price, REV’s long-term trend remains negative. This is because the broader market has been in a bearish trend for the past six weeks. REV experienced a similar rally on December 13 before the coin experienced a correction again.

Over the past three months, REV has lost more than 50% of its value. In September, REV was trading around the $0.018-$0.020 level per coin. However, its value has been declining ever since despite the intermittent price surge.

The MACD line is below the neutral zone, indicating that REV is currently in a bearish trend. Furthermore, the RSI of 37 shows that REV is currently in the oversold region.

REV’s value could recover in the short or medium-term if the broader market starts to rally again. Market participants are optimistic of another rally in 2022, and that could serve as a catalyst for REV to perform excellently and recover in the medium term. Furthermore, Revain has a good use case, and its adoption in the market could boost REV’s price.