MOVR down 18.6% on surging volume — this isn't normal profit-taking.
At $0.80, Moonriver is in a strong 4H downtrend with volume at 1.73x average ($11.9M). When price crashes on high volume, that's distribution.
The Damage:
- Price 35% below daily SMA99 ($1.23)
- 4H RSI at 46.2 — not oversold, room for more pain
- Daily RSI at 44.1 — weak but not capitulation
- L/S ratio: 1.22 — holders haven't fully capitulated
MOVR is in a structural downtrend (price < SMA25 < SMA99 daily). Today's dump confirms sellers are in control. The 18.6% drop isn't the bottom — it's the middle.
Trade Plan (CAUTIOUS):
Entry: $0.726 - $0.874
Stop Loss: $0.608
TP1: $0.832 | TP2: $0.864 | TP3: $0.896
R:R: 0.2 — aggressive scalpers only
I'd wait for 4H RSI to hit 30 and stabilize. Catching falling knives in downtrends blows accounts.
Catching this or waiting for dust to settle?
#MOVR #Moonriver #DYOR
Not financial advice. Downtrend + high volume selling = extreme caution. Always DYOR.
At $0.80, Moonriver is in a strong 4H downtrend with volume at 1.73x average ($11.9M). When price crashes on high volume, that's distribution.
The Damage:
- Price 35% below daily SMA99 ($1.23)
- 4H RSI at 46.2 — not oversold, room for more pain
- Daily RSI at 44.1 — weak but not capitulation
- L/S ratio: 1.22 — holders haven't fully capitulated
MOVR is in a structural downtrend (price < SMA25 < SMA99 daily). Today's dump confirms sellers are in control. The 18.6% drop isn't the bottom — it's the middle.
Trade Plan (CAUTIOUS):
Entry: $0.726 - $0.874
Stop Loss: $0.608
TP1: $0.832 | TP2: $0.864 | TP3: $0.896
R:R: 0.2 — aggressive scalpers only
I'd wait for 4H RSI to hit 30 and stabilize. Catching falling knives in downtrends blows accounts.
Catching this or waiting for dust to settle?
#MOVR #Moonriver #DYOR
Not financial advice. Downtrend + high volume selling = extreme caution. Always DYOR.