Rain has continued to rise and reached a new price record in the last two days. Long-term owners have bought more RAIN, and therefore the price has reached new highs.
The rise shows that there is strong demand, but the price development indicates that there could be a broader increase.
Rain Whales are starting to buy
Large players have played an important role in Rain's recent rise. In the last 48 hours, addresses holding between 1 million and 100 million RAIN purchased a total of 165 million tokens. At today's price, this purchase is worth approximately 1.66 million USD. The large owners thus show increased confidence in Rain.
This type of purchase has supported the rise. Large owners often influence the price in the short term since they buy up the supply. If they continue to buy, the price may continue to rise, and the risk of rapid declines decreases. Therefore, the structure for Rain remains strong.
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Technical indicators also show a positive trend. The Money Flow Index has risen and is above the neutral level of 50. MFI measures buying pressure and selling pressure with both price and volume, thus showing how strong the demand is.
Since the indicator is in the positive zone, it means that RAIN selling pressure has decreased. Buyers now dominate the market. Such conditions often allow the trend to continue, especially when large players keep buying.
At the time of writing, RAIN is trading near 0.0100 USD. 48 hours ago, the token reached a new all-time high of 0.0105 USD. It has confirmed a positive price development and strengthened the picture of continued growth on the chart.
The broader ascending wedge pattern shows that volatility is increasing and points to continued growth. This formation can provide up to 15% potential if confirmed. If the price breaks upward and the influx of capital continues, RAIN can reach new peak levels.
The positive outlook weakens if the rise stalls. If new money does not come in or owners take profits, the price can be pushed down. If that happens, RAIN may fall below support at 0.0100 USD. Such a drop could send the token down to 0.0090 USD, and then we may have to wait longer for the next rise.