$RIVER plunges 54% in 24h 📉
RSI is deeply oversold, but overall structure remains bearish.
Current price: $12.12
24h change: −53.8%
Market Structure
• Clear downtrend with lower highs and lower lows
• Price is well below MA(7), MA(30), and MA(200) → bears firmly in control
Key Levels
• Immediate support: $10.40
• Major support: $9.00 – $8.50
• Resistance: $15.00 → $18.50
• Major resistance: $29 – $30 (MA200 zone)
Indicators
• RSI(14): 23.5 → heavily oversold (bounce possible, trend still weak)
• MACD: Bearish with expanding red histogram → selling pressure intact
• Volume: Strong sell volume confirms breakdown
Outlook
• Below $18, bearish bias remains
• Oversold conditions could trigger a short-term relief bounce, but rallies may get sold
• Trend recovery requires:
– Reclaim above $18
– Followed by a break above $30
Bias: Bearish. Oversold bounce possible, but no confirmed reversal yet.
Dead-cat bounce… or more downside?
#RIVER #RIVERUSDT #Crypto #Altcoins #Binance
