RIVER surges 25% in one day: Will the uptrend continue?

RIVER surged 25% in just 24 hours and recorded an 11% increase over the past week. The short-term bullish momentum is accompanied by a sharp rise in open interest (OI), according to data from Coinalyze. Specifically, OI increased by 42%, reflecting speculative capital flowing in to capitalize on RIVER’s upward trend.

Source: CoinalyzeHowever, this demand is mainly speculative and not supported by real market demand on the spot market, as indicated by the spot CVD indicator. Additionally, the funding rate remains negative, suggesting that the short sellers still hold a certain advantage.

From a technical perspective, RIVER shows signs of shifting toward an uptrend, but short-term indicators still send cautious signals, implying that the risk of a correction has not been entirely eliminated.

RIVER Bullish Thesis

Daily RIVER/USDT Chart | Source: TradingViewThe strong short-term rally along with speculative capital participation does not always guarantee a sustainable trend. However, in RIVER’s case, the bulls are gradually showing signs of regaining market control.

The late January and early February period saw very volatile movements when RIVER surged to $88.7 before plummeting 82% within a week, forming a bottom at $7.1. Nevertheless, the peak at $24.2 during the recent decline is a more significant structural signal.

Breaking through this level on March 18 confirmed a shift to an uptrend on the daily timeframe. Meanwhile, the previous resistance zone at $18.38 has been retested as support, indicating a certain level of reliability.

Technical indicators also support the positive scenario. The CMF is currently at +0.01, after previously exceeding +0.05 in recent sessions, reflecting ongoing capital inflow. Meanwhile, the MACD has formed a bullish crossover and moved above zero, confirming upward momentum.

With these signals, the uptrend is likely to continue, although short-term corrections around $18 or lower may occur before the market resumes its upward movement.

Should You Buy on Corrections or Wait for Breakout?

2-hour RIVER/USDT Chart | Source: TradingViewOn the 2-hour chart, the market structure still leans toward a downtrend. Technical indicators show short-term momentum favoring the bears, as evidenced by the CMF remaining below -0.05.

In this context, RIVER’s price is likely to continue correcting over the next few days. The $15 zone is the nearest target to watch, and a more negative scenario could push the price back to $11 if Bitcoin faces strong selling pressure.

Conversely, a breakout above $28.7 would serve as a significant bullish signal. Traders could then consider trend-following strategies and closely monitor price reactions at the $15 and $17 levels in case of a correction.