The RIVER token is currently exhibiting a notable Bullish Butterfly harmonic pattern on its 4-hour chart, indicating potential market movements that traders should closely monitor. The publication provides the following information: this pattern often suggests a reversal in price trends, making it a critical point for traders to consider their strategies.
Potential Short-Term Bearish CD Leg
As the pattern develops, there is a possibility of a short-term bearish CD leg, which could impact trading strategies. Traders are advised to keep an eye on key support levels, particularly the A-point, as a failure to maintain this level may trigger further bearish momentum in the market.
Current Market Situation
The current market situation presents a critical juncture, where strong bullish fundamentals are counterbalanced by the risk of technical corrections. This dynamic creates an environment of uncertainty, making it essential for traders to remain vigilant and adapt their strategies accordingly.
Recently, NEAR Protocol has shown promising signs of a potential price movement as it approaches the $3 mark, contrasting with the current developments in the RIVER token. For more details, see more.
