🤯WHY $RIVER COULD CRASH SOON & SLASH IN HALF?💥
👇FULL ANALYSIS YOU DON'T WANT TO MISS!🔥
After bouncing from $18 about 4 days ago $RIVER
is astoundingly trading at whopping $42! 🚀
That's an incredible increase and a massive attempt
to squeeze shorts & liquidate them. However for shorts
who are still holding on, there seem to be some light
at the end of the tunnel. With liquidity drying up on
top, as over 3-4 million liquidations triggered
from $35-$42, market makers are slowly shifting
focus towards distribution phase.
As can be seen on lower time frame that MACD has
crossed over as traders starting to book their profits.
On daily time frame, It's important to notice that
price is now at the resistance trendline as can be seen
on the pitchfan drawn on the chart below.
This is the exact trendline from where price
has gotten rejected at least twice already.
Making a high interest level for sellers to
be activated at current price.
Liquidity on top is cleared, in addition to that
there's are quite a few clusters worth in total of
over 4-5 million compiled on the bottom
if price corrects and dips from current price of
$42 to $28 level.
350K tokens are scheduled to be unlocked tomorrow
which could also tank the price & increase volatility.
It won't be surprising if $RIVER sees preemptive
crash as traders usually clock-in such events before
they actually happen. If current resistance levels
hold then we can expect price to fall back to support
trendline below at 26 within 2-3 days. On the
opposite end of spectrum a break above $45 level
and sustained bullish momentum can extend price
towards $60! Volatility remains high due to high
negative funding rate due vast imbalance in the
market. There stay cautious & trade wisely!
Which way you think the cookie will crumble?
Please let us know your thoughts in the comments!
DYOR
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