RAVE remains under pressure after falling 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, but the broader message has not changed. Sellers are still in control, and the latest move suggests bearish pressure has not fully run its course.
The difference now is not direction, but intensity. Last week’s decline was aggressive and impulsive. This one is slower, but still decisive.
That usually points to sustained weakness rather than panic selling. In other words, the market is no longer crashing, but it is still leaning lower.
Buyers are still getting squeezed
One of the clearest signs of ongoing weakness is the rise in long liquidations. Over the last 24 hours, roughly 729K in long positions have been wiped out, showing that bullish traders are still being forced out of the market.
That matters because long liquidations often accelerate downside moves. As leveraged buyers get cleared, their forced exits add more selling pressure to an already weak market.
In RAVE’s case, that suggests the latest drop is not just Spot-driven weakness but a broader unwind in positioning. The market is not simply drifting lower. It is actively clearing failed bullish exposure.
Open interest decline reflects fading conviction
Open Interest has also 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.
That distinction matters. It suggests the market is losing support faster than it is attracting new buyers.
For now, that leaves RAVE in a fragile position. Bulls are being forced out, participation is shrinking, and price is still trending lower.
Bearish pressure remains dominant
RAVE’s structure still leans bearish in the near term. The latest drop may be less violent than last week’s selloff, but the underlying pressure remains intact.
Until liquidations begin to cool and Open Interest stabilizes, the current bearish run likely has room to extend. For now, the market still looks more vulnerable to bearish run continuation.
Final Summary
- RAVE remains under bearish pressure as long as liquidations continue, forcing leveraged buyers out of the market.
- Falling Open Interest and fading momentum suggest the current downtrend may not be over yet.
