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Recently, RIVER's 4-hour chart movement has been quite interesting. The price surged to 6.077 and then started to turn around, now stuck at 5.759, which is exactly the previous resistance zone. The technical indicators have shown several weak signals worth paying attention to.
Looking at some details: the MACD red histogram is shrinking, and DIF and DEA are about to form a death cross, indicating that the upward momentum is weakening. Regarding moving averages, EMA7 was originally a short-term support, but after the price surged, it failed to stabilize, and the short-term moving averages are beginning to weaken.
The trading volume is also intriguing — although the 24-hour volume reached around 100 million USD, there was no accompanying increase during the price surge, suggesting that the rally may lack sustained momentum. The most critical point is the 6.0 integer level, which has become a strong resistance. Multiple attempts to break through have failed, and sell orders have accumulated quite noticeably.
From a technical perspective, the current price around 5.8 can be considered for a light position to anticipate a pullback. Set a risk control point near the previous high of 6.2, and pay attention to the 5.1-4.8 range below, which theoretically offers a 10%-15% correction space.
A reminder: this type of trading involves leverage, so position control and stop-loss settings are crucial; do not take it lightly.