$RIVER 🚨 ROCKET! INSANE BULLISH REVERSAL After Falling Wedge Breakout! 🚀
📈 Price Action and Chart Pattern
The price previously experienced a significant decline, which formed a Falling Wedge pattern.
This pattern is typically considered bullish and suggests that a breakout to the upside is likely.
The price has successfully broken out of this Falling Wedge, indicating a dramatic reversal of the prior bearish trend.
🚀 Recent Momentum and Breakout
Following the breakout from the Falling Wedge, the price has shown strong, explosive upward momentum. Currently, there is a very sharp move up, smashing through several key moving averages (represented by the orange, purple, and blue lines).
The last major resistance level was around the 4.920 to 4.611 area (indicated by the blue zone), which has been overcome with massive force.
There is a clear, recent surge in price, indicated by the two blue circles, which highlights an aggressive, parabolic buying phase where the price has pushed past $6.000 and is currently trading around $6.629. The bulls are showing NO MERCY!
🎯 Moving Averages (MAs)
The price is now trading supremely above all the displayed moving averages. The MAs themselves have recently started to curl upward and are crossing, or about to cross, in a super bullish configuration, confirming the dominant shift in momentum.
🥅 Target and Key Levels
The chart shows a designated Target level marked by a red dotted line near 8.000. This suggests an expected price goal following the bullish breakout.
The recent breakout from the Falling Wedge and the strong upward move indicate that bulls are firmly and aggressively in control. If the current price level holds, the next major objective is the indicated Target.
