Most of the top markets are still trying to find their rhythm after an odd trading day yesterday. A mixture of bullish and bearish momentum has caused some uncertainty, which is still in place today. The Revain price, while usually performing well during these uncertain times, is bleeding value all over the place once again.
Revain Price Trend is not Looking Good
In the world of altcoins, there is a lot of odd momentum taking place right now. While there is no real reason for any downtrend in the cryptocurrency industry as a whole at this time, it quickly becomes evident things are not looking too great when looking at the bigger picture. When even currencies such as Revain are facing a lot of pressure in quick succession, today may not yield any positive outcome after all.
Over the past 24 hours, the market has seemingly turned against Revain in many different ways. More specifically, there is a 6.9% decline in USD value, dropping the value down to $0.11873. There is also a 6.7% loss in Bitcoin value and a 5.6% loss over Ethereum. None of these trends warrant optimism, as it may only be the beginning of what is yet to come later today.
One thing that has always been a bit odd about Revain is its trading volume. Unlike other altcoins, Revain seems to be continually struggling for trading volume. Even today, it notes just $422.569 in trades, which is next to nothing for a project valued at over $57.5m. This altcoin is not of great interest to most traders, even though it has allowed them to make good money during times like these in the past.
As most of this trading volume comes from exchanges which most people do not even use at this time, it seems unlikely there will be any recourse moving forward. BTC-Alpha and BitForex remain the biggest contributors for Revain as of right now, although it is a bit unclear how all of this will evolve in the near future. Getting listed on bigger exchanges has become easier lately, yet with so many projects vying for attention, Revain is not making itself stand out enough, by the look of things.
It is also worth noting the Revain sentiment is not necessarily surprising at this time. Not just because Bitcoin remains in the dirt, but also because the currency had hit a 30-day low a few days ago, That low is now being improved upon, although it is not necessarily a good development for people holding R as part of their portfolio.
— CryptoStare (@CryptoStare) February 24, 2019
All signs point toward further bearish pressure for Revain. This is not the development people are looking for right now, although there isn’t much one can do about the overall industry trend on their own. As such, today will be an interesting day, regardless of the outcome. For Revain, it seems highly unlikely this will be the bottom at this time, although one never knows what may come next.