📉 $RIVER
FLOODS THE MARKET: -27% Dump! 🌊 Is the Bull Run Over?
$RIVER holders are feeling the pain today! After hitting a high of $34.85, the price has collapsed by -27.56% to sit at $20.27. The 4-Hour chart shows a brutal rejection that has wiped out gains from the last few days. Is this a buy-the-dip opportunity or the start of a bear trend? 👇
📊 Technical Deep Dive (4H Timeframe)
1. The "M" Pattern (Double Top) 📉
The chart clearly shows two major peaks (one near $34.85 and a previous one slightly lower), forming a classic Double Top bearish pattern.
Result: The neckline broke, and the sell-off accelerated. We are now seeing panic selling as late buyers rush to exit.
2. Lost Support Levels 💔
The price has smashed through the short-term moving averages:
EMA 7 (Yellow): $22.99
EMA 25 (Pink): $22.85
Current Status: These lines have now crossed downwards (Death Cross on lower timeframes possible), acting as heavy resistance overhead. Bulls need to reclaim $23.00 to flip the momentum.
3. The Last Line of Defense (EMA 99) 🛡️
There is one major support level left: the Purple EMA 99 Line sitting at $17.53.
Bull Hope: The RSI is at 36.6, approaching "oversold" territory. We might see a bounce before we hit $17.50, but the trend is heavily bearish right now.
🎲 Trading Scenarios
🐂 Aggressive Buy (High Risk):
If you love catching knives, wait for the price to touch the $19.30 (24h Low) or $17.50 (EMA 99) zones. A bounce there is likely technically.
Target: A relief rally back to $22.50.
🐻 Short Continuation:
The trend is down. If the price bounces slightly to $21.50 - $22.00 and gets rejected, it is a textbook Short setup.
Target: The EMA 99 at $17.53.
🔮 Verdict
The bears are in control. 🐻
Unless we see a strong green candle closing back above $23, the path of least resistance is DOWN.
Are you holding your RIVER bag or did you sell the top? Let me know! 👇
#RİVER #CryptoCrashAlert