$RIVER Price Action Analysis Signals Deep Correction With Stabilization Potential
RIVER is currently trading around $14.83 after a sharp decline of more than 16%, reflecting strong bearish pressure following an explosive rally earlier in the month. The chart shows a classic blow-off top near the $106 zone, where aggressive profit-taking triggered a steep reversal. Since then, price has formed a series of lower highs and lower lows, confirming a short-term downtrend on the daily timeframe. The 7-day and 25-day moving averages have turned downward and are positioned well above the current price, acting as dynamic resistance and highlighting weak bullish momentum.
Notably, price is now hovering close to the 99-day moving average, which often acts as a critical long-term support zone. This area could attract dip buyers looking for a potential base formation after the extended sell-off. The long lower wick on recent candles suggests rejection of lower prices and hints at slowing downside momentum, although confirmation is still needed. Market sentiment remains cautious as volume has declined compared to the rally phase, indicating reduced participation from both buyers and sellers.
From a broader perspective, RIVER is in a cooling and consolidation phase after extreme volatility. If the 99-day MA holds, the market may attempt a sideways structure or a relief bounce toward the $18–$22 range. However, failure to hold this support could expose price to deeper retracement levels. Overall, patience is key, as the asset transitions from hype-driven expansion to a more technically driven price discovery phase.
#BinanceBitcoinSAFUFund #BinanceBitcoinSAFUFund #BinanceBitcoinSAFUFund #BinanceBitcoinSAFUFund #BinanceBitcoinSAFUFund