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The recent trend of the RIVER token is indeed worth paying attention to. The whales have been continuously pushing up the price over the past week, reaching a high of around 42. Subsequently, seeing no retail follow-up buying, they dumped for two consecutive days, and now the price is hovering around 37.25.
From a technical perspective, the volume associated with this upward move has almost been exhausted, and the room for further breakout is limited. My view is that if the price rebounds within the 37.35 to 38.15 range, it could be a good opportunity to enter a short position. The lack of support above and the weak rebound could lead to a quick drop.
Key levels below should be closely monitored. The initial target for the first wave of decline could be around 33. If that level breaks, the next target is 28.5. Overall, RIVER is currently in a high-level consolidation phase, with high risk and caution advised.