🚀 $RIVER LONG: BOUNCING OFF THE FLOOR? 📈 [Long]
RIVER has shown a strong recovery after testing its 24h low of 2.788, currently trading at 3.769 with a +16.54% gain. The 4H chart reveals a successful bounce from a major support level, and the price is now fighting to cross back above the EMA(7).
📈 TRADE SETUP
Entry Zone: 3.650 – 3.780 (Enter near the current support base)
Target 1: 4.127 (Retest of the 24h High)
Target 2: 4.667 (Major resistance at the EMA 99)
Stop Loss: 3.250 (Safety buffer below the recent consolidation)
🔍 THE ANALYSIS
The price action is stabilizing after a sharp sell-off from the 5.869 peak. On the 4H timeframe, we see a "bottoming out" structure near the 2.788 level, followed by a surge in buying volume. While the MACD is still in negative territory, the histogram is ticking upward, suggesting that the bearish momentum is fading. By setting the Stop Loss at 3.250, we protect the trade against a potential double-bottom retest while positioning for a rally toward the 4.127 resistance zone.
Will RIVER reclaim the 4.00 psychological level today, or is this just a relief bounce? Vote below! 👇
