According to reports from AMBCrypto, RAVE has declined another 10% over the last 24 hours, extending the weakness that began after last week's sharper sell-off. The pace of the decline has slowed from last week's aggressive and impulsive movement, but the broader message remains unchanged - sellers continue to control the market. As reported by AMBCrypto, the difference now is not direction but intensity, suggesting the market is no longer crashing but still leaning lower.
As reported by AMBCrypto, over the last 24 hours, approximately 729,000 long positions have been wiped out, demonstrating that bullish traders are still being forced out of the market. Long liquidations often accelerate downside moves, as leveraged buyers get cleared, their forced exits add more selling pressure to an already weak market. According to AMBCrypto, this suggests the latest drop is not just spot-driven weakness but a broader unwind in positioning, with the market actively clearing failed bullish exposure rather than simply drifting lower.
According to AMBCrypto, Open Interest has dropped 13% over the same period, reinforcing the idea that traders are pulling back rather than stepping in. Falling Open Interest during a price decline usually points to weakening participation and reduced confidence, not fresh bearish aggression. As reported by AMBCrypto, this distinction suggests the market is losing support faster than it is attracting new buyers, leaving RAVE in a fragile position where bulls are being forced out, participation is shrinking, and price continues to trend lower.
As reported by AMBCrypto, RAVE's structure still leans bearish in the near term, with the latest drop being less violent than last week's selloff but underlying pressure remaining intact. Until liquidations begin to cool and Open Interest stabilizes, the current bearish run likely has room to extend. According to AMBCrypto, the market still looks more vulnerable to bearish run continuation, with the current weakness characterized by sustained rather than panic selling, indicating a more measured but still decisive market movement.
