🚨 $RIVER Clear Downtrend, but oversold conditions warn of a potential bounce.
• Price is testing critical support level 53.69 and the Bollinger Lower Band 53.5
• MACD histogram turning positive and oversold KDJ suggest a short-term rebound is possible.
• However, the overall trend remains bearish due capital outflows, and MA alignment.
• Recent K-line data shows elevated volume during price declines (1.8M volume at 55.2), confirming selling pressure. However, volume spikes near support 53.1 suggest potential accumulation.
• Contract net outflow is significant (-55.5M over 24h), indicating strong selling momentum. Short-term outflows (5m to 4h) are consistently negative, reinforcing bearish sentiment.
Entry $RIVER
• Short Entry: Near resistance at 65 USDT or if price breaks below 53.5 with volume.
• Long Entry: Only if price holds above 53.5 with a bullish reversal candle and rising volume.
Stop-Loss:
• For shorts: 66.9 if shorting at 65
• For longs: 50.8 if buying at 53.5
Target Price $RIVER
• Short target: 49.2 (Support)
• Long target: 65 (Resistance)
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#river #riverusdt