RARI Crypto Price Doubles, Trading Volume Increases 20x: Is a Trend Reversal on the Horizon?

In the past 24 hours, the Rarible token (RARI) experienced a remarkable price increase of 94.5% and a substantial 20-fold rise in trading volume. Despite this surge, the price encountered resistance at $0.5 and retreated to $0.35. With a stagnant user base and low weekly activity on the platform, could this be a momentary spike or the beginning of a significant trend reversal?

Key Takeaways

RARI's price surged by 94.5% in 24 hours, but trading remains under resistance at $0.5.
Current market cap is $7.27 million, with a 20x increase in trading volume.
User engagement has been minimal, consistent with historical trends — 24.4k to 24.6k holders and under 1,000 active weekly users since April 2023.
Price analysis indicates an ongoing downtrend for RARI over the past year.
With the recent Bitcoin bounce, altcoins, including RARI, are experiencing temporary price increases, but traders are advised to remain cautious of potential price reversals.

RARI crypto price doubles, trading volume up 20x: Trend reversal incoming?

Price Analysis Shows a Continued Downtrend for RARI

RARI Crypto D1

Source: RARI/USD on TradingView

Since November, the downward price trend for RARI has been evident. Prices have been declining since January. The Chaikin Money Flow (CMF) indicator recently surpassed +0.05, a level it had also reached in December 2024. The On-Balance Volume (OBV) did see an upward spike during the weekend trading burst, indicating increased activity; however, this does not imply a confident bullish sentiment. For a shift in the trend, RARI would need to move above the $0.5 resistance level, but this has not yet materialized.

Considering a Bullish Scenario

A recent rally past $0.29, which was a local swing high, hints at a possible bull market structure shift. Nonetheless, the overall trend remains bearish. If the price returns to the $0.29 level, there is potential for RARI to bounce back. However, given the long-term downtrend and the continuous lack of user engagement, this scenario seems unlikely.

Traders’ Recommendations — Sell on the Bounce

On Monday, Bitcoin's price surge to $90k led to noticeable increases in various altcoins after previous weeks of decline. This uptick should not be viewed as the onset of a recovery but rather as a temporary rebound that sellers can capitalize on. The same applies to the RARI token. A breakout above $0.5 would signify a technical trend reversal, but after a year-long decline, initiating long positions could be risky.

Final Thoughts

Disclaimer: The information provided here is for educational purposes only and does not constitute financial, investment, trading, or other types of advice. It reflects the writer’s personal opinion.