Has Rain token just started its real game?

Have you noticed the movement of the 'Rain' token in the last two days? While the market was a bit wobbly, this coin has quietly touched its new all-time high (ATH). While looking at the chart, I felt that this pump or price increase is not an ordinary phenomenon, but there are some strong reasons behind it. I tried to go a little deeper and see what is really happening.

The most interesting thing that came to my attention is the activity of big investors or whales. After analyzing the on-chain data, I saw that in the last 48 hours, wallets with 1 million to 100 million RAIN tokens have been accumulating like crazy. Believe it or not, they have bought about 165 million tokens in just two days! Which is worth about $ 1.66 million at the current market price. When big players keep filling their pockets by reducing the supply like this, then you have to understand that they are seeing something positive for the long term. Usually, this type of buying provides support to the price in the face of minor market obstacles.

I am not only excited because the whales are buying, but the technical indicators are also giving bullish signals. I checked the 'Money Flow Index' (MFI), and it is neutral or above the 50 level. In simple terms, this means that the buyers are now much more dominant than the sellers in the market. There is hardly any selling pressure. Currently, a "Broadening Ascending Wedge" pattern is forming on the chart. In trading terms, this pattern indicates increased volatility, and if it can successfully break out, we can see at least another 15% upside movement from here.

At the time of writing, RAIN is trading around $0.0100 and recently touched a record high of $0.0105. If this buying by big investors continues and the $0.0100 support level can be held, we will see another breakout rally very soon.

However, there is always an upside in trading. If momentum decreases or profit booking starts and the price drops below $0.0100 and closes, it can slide towards $0.0090. Then the bullish setup will be canceled. Overall, looking at the data and charts, it seems that this movement of Rain is just the beginning. The large volume of buying and the positive chart pattern all indicate that the party is not over yet. However, those of you who are thinking of taking an entry must keep a close eye on the $0.0100 level.