Deep Dive
1. Refund Program Activation (Bearish Impact)
Overview: RACA announced refunds on 22 July 2025 after a political partnership dissolved, allowing investors to recoup funds. While designed to maintain trust, the mechanism may have incentivized holders to liquidate positions.
What this means: Refund windows often create sell pressure as participants convert tokens to stablecoins. With RACA already down 79.11% yearly, the program likely accelerated capitulation from disillusioned holders.
What to look out for: Sustained volume above the 24h $2.7M level could signal exhaustion of refund-related selling.
2. Technical Breakdown (Bearish Impact)
Overview: RACA trades below all major moving averages (30-day SMA: $0.0000437, 200-day SMA: $0.0000618), confirming long-term bearish structure. The 14-day RSI at 40.77 avoids oversold territory, leaving room for further declines.
What this means: Technical traders see the failure to reclaim $0.00004505 (50% Fibonacci retracement) as confirmation of downside targets toward $0.0000357 (2025 low). Thin liquidity (turnover 0.165) exacerbates volatility.
3. Risk-Off Sentiment (Mixed Impact)
Overview: Crypto markets remain in "Fear" territory (index 24) with altcoins particularly vulnerable – the Altcoin Season Index sits at 31, favoring Bitcoin dominance (59.18%).
What this means: Macro uncertainty drives capital to large caps, starving projects like RACA of fresh inflows. However, extreme fear readings sometimes precede contrarian bounces if catalysts emerge.
Conclusion
RACA’s decline reflects project-specific uncertainties magnified by sector-wide risk aversion. Traders face conflicting signals – refund overhangs vs. deeply oversold conditions.
Key watch: Can RACA defend the $0.0000397 Fibonacci 78.6% support? A breakdown could trigger algorithmic sell orders.