If you were entered a SHORT in $RIVER , look at this: 🫵🏼
Major things to note:
** A token unlock of around 1.11 million tokens worth nearly $23 million entered circulation on March 22, this represents about 2.39% of circulating supply and adds direct sell pressure.
** Over the past 7 days RIVER is down 32%, severely underperforming the broader crypto market which is down only 1.1%.
** Just yesterday, River plunged 20.5% in a single day, wiping out $87.3 million in market cap, with trading volume surging to $25 million as investors rushed to exit.
The Strategy:
Stop Loss: $19.50 – $20.00
A clean close above $20 would mean price reclaimed broken support and the dead cat bounce turned into a real recovery. Exit immediately if this happens. Hard max stop at $20.00.
Specifically, the fundamental picture is also bearish.
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