$RIVER – Perpetual Contract Update
$RIVER is experiencing a sharp downward move after a strong rally, with price currently at 9.898 USDT, up 17.06% intraday, showing high volatility. The sudden pullback indicates that short-term profit-taking is dominating, while buyers are struggling to maintain control near previous highs.
Volume spikes on the recent down candles show heavy selling interest, reinforcing the short-side bias. Traders should monitor critical support around 9.50 – 9.70 USDT; a break below could accelerate the decline toward 9.20 – 9.00 USDT. Resistance levels remain near 10.20 – 10.50 USDT for any corrective bounces.
Trading Setup:
• Short Entry: 9.90 – 10.00 USDT
• Take Profit Targets: 9.50 / 9.20 / 9.00 USDT
• Stop-Loss: 10.30 USDT
The path of least resistance remains downside, so staying on the short grind aligns with current market structure.
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