After the strong rejection from the historical peak at $88, the currency $RIVER is currently stabilizing near the pivot area at $58.50. The 15-minute frame shows a sharp cooling period, but the high trading volume indicates the potential for a technical rebound or support test in the next 120 minutes.
📊 Technical analysis for speculation (15-minute frame)
Main support: $56.80 (lowest price in 24 hours and strong psychological floor).
Main resistance: $61.50 (immediate supply area) and $63.80.
Indicators:
RSI: at level 38—approaching the oversold area. A drop to level 30 will be the main buy signal.
MACD: negative momentum has started to fade on the 5-minute frame, hinting at a short-term bullish rebound.
⚡ Trading plan (Long Scalp)
Direction: Buy (speculating on the rebound)
Entry area: $57.20 – $58.40
Profit targets (TP):
Target 1: $60.50 (quick exit for speculators)
Target 2: $63.20 (test of main resistance)
Stop loss (SL): $55.90
Risk ratio: 1:2.8 ⚖️
Discussion question: Are you buying from the support at $58, or do you think $RIVER will continue to drop to $50? Share your plan! 👇
