$RIVER /USDT – The Blow-Off Top? Caution Advised! 🚨
$RIVER has put on an incredible show with a +54% move, but the "Vertical Phase" appears to be hitting a wall at the $34.85 resistance level. We are now seeing a sharp reversal as liquidity exits the market.
The Short Thesis:
Massive Rejection: The price was rejected sharply from the $34.855 high, leaving a long upper wick and a strong bearish candle.
Overextension: The distance from the EMA(99) at 16.946 and EMA(25) at 23.305 indicates that the asset is severely overbought and due for a cooling-off period.
Support Search: There is a significant "liquidity gap" below the current price. If we lose the $29.00 level, the next logical area for buyers to step back in is the EMA(7) at $27.22 or the major structural support at $23.30.
Execution Plan:
Bias: Bearish / Tactical Short.
Entry Zone: Current levels ($29.50 - $30.50) on any small relief bounces.
Target 1: $27.22 (EMA 7).
Target 2: $23.30 (EMA 25).
Stop Loss: A daily close above $35.00.
Trader's Note: Parabolic moves like this are exciting, but the crash is often just as fast as the pump. Protect your capital and don't be the one "holding the bag" at the top.
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