RIVER crypto jumps 12% in a day – Is bearish reversal pattern invalidated?
RIVER crypto surged 12% in 24 hours, extending its weekly gains to 81%. Key factors include a relatively low circulating supply of 19.6 million tokens, strong demand, and bullish sentiment among traders. The Long/Short Ratio on major exchanges and positive funding rates indicate strong bullish positioning. Despite previously confirming a bearish head-and-shoulders pattern by breaking below the $12.45 neckline, the price has now reclaimed that level. However, a break above the second shoulder high of $22.54 is needed to fully invalidate the reversal pattern. Technical indicators like the Choppiness Index and MACD suggest growing trend strength, but confirmation is still required.
ambcrypto03/02 14:01
