RIVER has formed a engulfing pattern on the daily chart. Combined with the top divergence signal on the 4-hour timeframe, the probability of a continued downward move in the short term is quite high. Based on the current technical performance, the next key support level is likely around 8.7. The recent price movements have indeed been signaling weakness. Without clear buying support, it will be difficult to halt the decline. Traders interested in this asset may want to keep an eye on this price range.
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Deconstructionist
· 22h ago
See you on 8.7, anyway, this wave can't escape either.
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MEVHunterBearish
· 22h ago
I have been watching the 8.7 level for a long time, and now I'm just waiting for the absorption pattern to fully develop.
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YieldHunter
· 22h ago
ngl the divergence setup is textbook, but 8.7 feels like cope if volume doesn't confirm it... technically speaking degens always miss the reversal candle anyway
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TommyTeacher1
· 22h ago
8.7 can it hold? Feels like it's about to break below.
RIVER has formed a engulfing pattern on the daily chart. Combined with the top divergence signal on the 4-hour timeframe, the probability of a continued downward move in the short term is quite high. Based on the current technical performance, the next key support level is likely around 8.7. The recent price movements have indeed been signaling weakness. Without clear buying support, it will be difficult to halt the decline. Traders interested in this asset may want to keep an eye on this price range.