$RIVER We explain what exactly happened here in RIVER/USDT based on what is visible on the chart ๐
(Technical analysis only)
๐ What did the price do?
1๏ธโฃ There was an upward trend
The price rose from the bottom to 17.80
It was working above the Middle Bollinger (MB) = healthy trend
2๏ธโฃ A reversal occurred
When it reached 17.80, it faced strong rejection
It started to drop and broke:
โ MB of Bollinger (15.11)
โ The averages
โก๏ธ This break means:
The upward trend has temporarily ended and we have entered a correction / decline
๐ Indicator readings
๐ด Bollinger Bands
The price is now close to the lower limit (12.50)
It hasn't given a strong rebound yet
๐ด MACD
Clearly negative
The histogram is red โ downward momentum
๐ด RSI (6)
30 โ close to being oversold
Meaning: the decline has weakened, but it's not a confirmed buying signal
โ ๏ธ Volume + OBV
Volume is low
OBV is not rising โ there is no money entering now
What is the market doing now?
The closest scenario:
๐ A downward correction after a strong upward wave
๐ข Where to buy? (If you want to buy)
โ Don't buy now in the middle
โ Buying should only be at support
๐ Potential buying areas:
12.80 โ 12.50 (the lower limit)
With the condition:
A rebound candle
RSI rises above 30
โ Stop loss:
Below 12.20
๐ด Where to sell? (If you are in)
๐ Sell on rebound:
14.50 โ 15.10 (previous MB = resistance)
๐ Stronger sell:
If it returns close to 16.0 and shows weakness
๐ง Summary
What happened here is a natural correction after the Pump
The trend is now short-term downward
Buying requires patience
Selling should be at rebounds not at the bottom
$RIVER