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Earlier this week, AMBCrypto reported that River (RIVER) could see further short-term gains. The token reached $23, as forecast, but there were signs that additional upside may be limited in the near term.
After hitting a high of $24.2 on Thursday, February 12, RIVER fell 18.9% to $19.62. The move away from the $24 supply zone became a key focus for traders.
Despite the pullback, the prior run left several levels that could attract price action. Over the past week, RIVER recorded a 55.2% bounce, suggesting upward momentum had been present.
However, the 1-day swing structure was bearish. The $16.1 swing low had been breached, and the longer-term bias on this timeframe shifted to bearish. Momentum also weakened: the MACD fell below the zero line, indicating downward momentum over the past two weeks.
The Chaikin Money Flow (CMF) stood at -0.36, signaling heavy capital outflows from the market. In combination with the bearish structure, this pointed to the possibility of bearish continuation.
Even so, RIVER left imbalances on the 1-day timeframe that may act as supply zones. The highlighted areas were at $26-$33 and $35-$40, which traders may expect to be tested in the coming days.
The liquidation heatmap also showed nearby liquidity pockets. The closest clusters to the current price were at $15 and $25, with roughly equal liquidation magnitudes. Additional liquidity clusters were noted beyond $25, including at $33 and $37.7.
Strong capital outflows, reflected in the CMF, warrant caution. While last week’s gains had briefly improved lower-timeframe structure and momentum, the strength may not persist.
Traders were advised to treat the overhead imbalances and magnetic zones as potential supply areas, where selling pressure on RIVER could emerge, particularly if price moves back toward the $26-$33 and $35-$40 regions.
RIVER rallied 55% in a week, but the volume indicator reportedly warned of holders selling into the rally. The article also characterized the asset as extremely volatile, noting it rallied 660% in under three weeks before retracing the entire move a week later.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.
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