Pair: $RIVER

Current Price: ~$12.234

24h Change: +4.20% | Range: 14.62% (high $13.340 / low $11.603)

Trend / Setup: Bearish structure despite today's positive close. Price pumped to $13.34 earlier but has since dropped -2.04% from the mark and is now trading far below all major moving averages (MA7 $14.03, MA25 $19.08, MA99 $19.85). This indicates a strong downtrend overall. The current move looks like a dead cat bounce or consolidation after a larger sell-off. Funding is slightly positive (+0.00866%), favoring shorts slightly. Volume is moderate to high.

🔸 Entry Zone (Short): $12.50 - $12.80 (on a bounce / retest of resistance)

🔸 Stop Loss: $13.40 (above the 24h high and recent rejection zone)

Targets:

🔸 TP1: $11.80 (near current support)

🔸 TP2: $11.60 (24h low area)

🔸 TP3: $11.00 (psychological level if breakdown continues)

Alternative Long Setup (low probability, high risk): Only if price reclaims and holds above $13.00 with strong volume, then a long scalp toward $13.40. SL below $12.50. Not recommended given the bearish MA structure.

Key Insight: All three MAs are descending and clustered far above price ($14-$20 range). This is a textbook bearish alignment. Until price can break back above $14, sellers remain in control. The bounce from $11.60 to $13.40 was rejected, and price is now fading. Look for short entries on weak bounces.

DYOR | Not financial advice.