binancetrading

RIVER has shown a tremendous move in the last few hours (+32%), but will this speed remain maintained? Let's look at the chart:
​🔍 Technical Analysis Highlights:
​Price Action: Current price is around 21.015 and it has touched a high of 21.337. Now it is struggling near its local resistance.
​RSI (Relative Strength Index): RSI is at 78.4 at this time, which comes in the Overbought zone. This means that the market needs a small correction or "cooling period."
​EMAs: Price has rapidly gone above EMA(7) and EMA(25). History tells that when the gap increases too much, price comes back to touch the EMA lines.
MACD: MACD line is still bullish, but looking at histogram peaks, it feels like momentum might slow down a little.
​💡 Trading Strategy:
Bullish Scenario: If price closes a candle above 21.35, then a new high can be seen.
Bearish Scenario (Pullback): If price gets rejected from here, then we can see a retest up to 20.46 (EMA 7) and 19.60 (EMA 25).
Risk Warning: Always use Stop Loss because volatility is quite high in Perpetual trading! ⚠️
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