Token unlocking on March 22: supply shock or growth catalyst? $RIVER
Crypto analysts point to the token unlocking on March 22 as the key event, expected to release 1.11 million tokens to the market, which is 2.4% of the total supply.
As a result, tokens worth approximately 25.5 million USD will be allocated to the project's ecosystem fund.
Experts have divided opinions on how this event will affect price momentum.
In summary, an increase in volatility is expected, with a possible correction in the short term.
Technical analysis: Fibonacci levels and trend structure
From a technical standpoint, the weekly chart shows that RIVER has reached and surpassed the Fibonacci retracement level at 26.1 USD, although bulls still need to consolidate at higher levels.
In this scenario, the next upward target would be 37.9 USD, where the 38.2% Fibonacci level is located.
Key support and resistance levels
On the daily chart, the regression channel shows an upward trend, with the price currently oscillating around the regression line.
Although sentiment is slightly positive for now, a pullback cannot be ruled out.
If bears regain control in the short term, intermediate support could form at 21.8 USD and then near 12.5 USD.
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