🌊 $RIVER Analysis: Is the Bottom In or Is There More Room to Drop?
The "River" has been a wild ride lately! After a massive parabolic run to an All-Time High of $86.00, we are seeing a significant retracement. Currently trading around $13.89, RIVER is testing some very critical levels.
🔍 Technical Breakdown (1D Chart)
• The Big Correction: We’ve seen a sharp decline from the peak. This is typical for high-beta assets after a 50x move. The price is currently hovering just above the MA(99) (purple line) at $13.60.
• Support & Resistance: * Immediate Support: The $13.60 - $13.80 zone is the line in the sand. If we lose this, the next psychological floor is back toward the single digits.
• Resistance: To turn bullish again, we need to reclaim the MA(7) ($23.67) and MA(25) ($34.65).
• MACD Status: The MACD is deep in the red. While the selling pressure seems to be "peaking" (histogram bars aren't getting longer), we haven't seen the "Bullish Cross" yet. Patience is key here.
⚠️ What to Watch For
1. Token Unlocks: February has seen some supply pressure from early investor unlocks. This added "sell-side" liquidity is likely what’s weighing the price down.
2. Chain Abstraction Growth: Fundamentally, River’s utility in cross-chain stablecoins (satUSD) remains strong. Watch for new ecosystem partnerships to spark the next reversal.
💡 Strategy
If you’re a long-term believer, this "blood in the streets" phase is often where DCA (Dollar Cost Averaging) begins. However, aggressive traders should wait for a daily candle close above $16.00 to confirm that the immediate bleeding has stopped.
What’s your move? Are you catching the falling knife or waiting for $10? 👇