The Revain price has been in a strong bullish trend recently as investors hope that the cryptocurrency will become the next big thing. The REV token has jumped to $0.02156, which is the highest it has been since May this year. It is about 300% above the lowest level in July this year.
REV token parabolic rally
Revain is a blockchain project that is attempting to disrupt the massive customer review business. The developers have created a platform where people can leave reviews of most companies. Some of the most reviewed platforms in the ecosystem are cryptocurrency exchanges like Binance and Coinbase.
By decentralizing the reviews process, the team is removing the incentive to manipulate the reviews. It is also removing the situation where moneyed companies pay to have favourable reviews.
Today, the company has added more than 13,600 companies on its platform while users have left more than 71,000 reviews.
Still, from a fundamental perspective, the developers face key challenges ahead. For one, the reviews industry is highly competitive, with companies like Yelp, Google, and Apple having a substantial market share in the industry. Also, it will be relatively difficult to convince people to leave reviews on the platform. Indeed, a closer look at some of key companies shows that many people have not left reviews on them.
The Revain price has jumped simply because investors are in search of the next big thing in cryptocurrency industry. Indeed, recently, other relatively unknown coins like Helium and Audius have jumped by more than 100%.
Revain price prediction
The daily chart shows that the REV price has been in a parabolic rally recently. It has risen in the past four consecutive days and is trading at the highest level since May. Along the way, the coin has moved above the key resistance level at $0.01, which was the highest level in June this year. The coin has also moved above the 25-day and 15-day moving averages.
Therefore, the pair may continue with the bullish trend as investors target the key resistance level at $0.0300. However, a drop below $0.015 will invalidate the bearish view.