$RIVER Price Action Is Flawless: Here’s Why Bulls Are in Control

RIVER has had one of the more compelling stories in crypto over the past week. After the recent airdrop and ecosystem announcements, the token attracted strong buying interest. that pushed it well above previous consolidation levels. 

Now, as the initial hype settles, The chart is showing something that technical traders love to see: structure. Sjuul from AltCryptoGems indicated the move on X, noting that the RIVER price is still pushing higher after that textbook move. His assessment is simple but meaningful: it is a bullish chart

The RIVER 12-Hour Chart Reveals Clean Structure

Looking at the 12-hour chart, the setup is clear. The RIVER price had been trading in a range between approximately $16.00 and $20.00 for several weeks, building a base after the initial launch volatility. The breakout from this range came with the recent airdrop news, pushing the RIVER price above $20.00 for the first time.

What matters now is what happened next. Instead of reversing back into the range, the RIVER price held above the breakout level and began consolidating in a new, higher range. This is the textbook behavior that Sjuul references.

The chart labels a clear FLIP level where former resistance near $20.00 has now become support. Below this, a zone labeled RETEST appears, which shows where the price retraced to retest the breakout before proceeding with its uptrend. This shows that buyers are ready to buy the asset.

Current Price Action and Key Levels

The RIVER price currently trades at a level around $20.50, a level slightly above the turned support level. This price move took the token to a new high of around $24.00, a move that indicates the buyers’ commitment to taking River to new heights. 

However, the current pullback from the new price high has been minor, and River currently trades significantly above the breakout level. The token currently faces resistance at the fresh price high of around $24.00. If the price breaks through this level, it could target the level of around $26.00 to $28.00. 

On the other hand, the turned support level of around $20.00 currently acts as the token’’s initial support level. If the River price fails to stay above the level of $20.00, it could target the level of around $18.50, the former range high. 

RIVER needs to stay significantly above the level of $20.00 for the bullish scenario to remain valid. If the price fails to stay above the level of $20.00, the breakout could be a false breakout.

Read Also: The Math Behind XRP Price Hitting $1,000+: Analyst Breaks Down the Numbers

What Comes Next for RIVER 

The RIVER price now sits at a decision point. The trend still appears to favor the higher end as long as the level of $20.00 acts as support. If the price does rise, the next level to target would likely be around the level of $24.00, and then a breach of that level could lead to the level of $26.00 or more. 

On the other hand, a breach of the level of $20.00 could jeopardize the current scenario, potentially taking the price back to the level of $18.50. For now, Sjuul’s assessment holds. The RIVER price is pushing higher after a textbook move, and the bullish structure remains intact.

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The post $RIVER Price Action Is Flawless: Here’s Why Bulls Are in Control appeared first on CaptainAltcoin.