$RIVER Faces Heavy Distribution After 3.3x Volume Spike Bearish Structure Intact
A 3.3x unusual selling volume on $RIVER has triggered a sharp downside move, signaling potential smart money distribution alongside forced liquidations rather than simple retail panic.
The current market structure suggests the path of least resistance remains downward unless price can reclaim and sustain above the 6.694–6.834 resistance zone.
A short-term relief bounce is still possible, but it is likely to remain capped within the 6.385–6.694 area, where sellers are expected to regain control. From there, renewed downside pressure could drive price toward 6.159, with an extended bearish target at 5.951 if momentum continues.
For short setups, the ideal approach is to wait for a retracement into the 6.385–6.694 resistance zone and look for clear rejection confirmation, such as bearish price action or a lower high formation on lower timeframes like the 5-minute chart. Entry should only be considered once sellers demonstrate clear dominance.
Take-profit levels can be set conservatively at 6.159, or extended toward 5.951 for a more aggressive swing trade. Stop-loss should be placed above the recent swing high of the retracement, ideally above 6.834 to protect against invalidation.
A decisive close above 6.834 with strong continuation would invalidate the bearish bias and signal a potential shift in momentum, requiring traders to step aside and reassess.
Avoid chasing price in the middle of the move. Patience for a clean retrace and rejection remains the key advantage in this structure.
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