Just watched RAVE get absolutely wrecked today. The token absolutely ripped from the mid-teens all the way up to hit a fresh ath near $27-28, and then within hours it just imploded down to $11. Brutal doesn't even begin to describe it.

Analyst Hrithik had called this early, warning that the team was behind the pump and it would crash hard. His first post showed RAVE around $23 and up almost 25% on the day, but then he followed up saying it crashed from $25 straight down to $11. That vertical selloff is exactly what you see when a blow-off top fails. Buyers got caught chasing the breakout, but there was zero support once the selling started.

The market cap situation is insane too. RAVE's valuation went from briefly touching $7 billion down to like $2.8 billion. Billions just evaporated in a matter of hours. That's not normal pullback territory, that's full capitulation.

Another trader posted the weekly chart and it's telling. RAVE left behind this massive upper wick from the failed surge, which basically screams rejection at those levels. The current price is sitting around $10.50 after bouncing off the $9.74 low. Bollinger bands are tight around $10.26-$10.82, so there's not much room to move either way right now.

Momentum wise, MACD just barely turned positive on the rebound, but both lines are still underwater. That means we went from deeply negative to just slightly less negative, not from strength. The whole thing feels like RAVE is just trying to find a floor after that ath got absolutely rejected.