$RIVER plunges 54% in 24h ๐
RSI is deeply oversold, but overall structure remains bearish.
Current price: $12.12
24h change: โ53.8%
Market Structure
โข Clear downtrend with lower highs and lower lows
โข Price is well below MA(7), MA(30), and MA(200) โ bears firmly in control
Key Levels
โข Immediate support: $10.40
โข Major support: $9.00 โ $8.50
โข Resistance: $15.00 โ $18.50
โข Major resistance: $29 โ $30 (MA200 zone)
Indicators
โข RSI(14): 23.5 โ heavily oversold (bounce possible, trend still weak)
โข MACD: Bearish with expanding red histogram โ selling pressure intact
โข Volume: Strong sell volume confirms breakdown
Outlook
โข Below $18, bearish bias remains
โข Oversold conditions could trigger a short-term relief bounce, but rallies may get sold
โข Trend recovery requires:
โ Reclaim above $18
โ Followed by a break above $30
Bias: Bearish. Oversold bounce possible, but no confirmed reversal yet.
Dead-cat bounceโฆ or more downside?
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