The cryptocurrency RIVER surged over 22% to $18.24, pushing its market capitalization above $332 million as exchange outflows reduced immediate sell pressure. Traders are withdrawing tokens from exchanges, with spot flow data showing a net outflow of $60.87K, while a bullish ‘cup and handle’ pattern forms on the charts targeting the $20 resistance level. Data from CoinGlass indicates Binance’s top traders hold a long/short ratio of 1.30, with a positive funding rate of 0.0776%, reflecting growing bullish sentiment in derivatives markets.
The cryptocurrency RIVER has surged over 22% to $18.24, elevating its market capitalization above $332 million. Spot flow data shows a net outflow of $60.87K as traders withdraw tokens from exchanges, a behavior often indicating reduced selling intent.
Market activity remains elevated despite a mild dip in 24-hour volume, suggesting existing holders maintain positions. The ongoing rally reflects both rising demand and decreasing exchange-based selling pressure as supply tightens.
Price action reveals a ‘cup and handle’ formation on the 4-hour chart as RIVER approaches key structural resistance. A decisive move above the $20 neckline would confirm this broader bullish continuation pattern.
Technical indicators support the recovery, with the MACD showing a fresh bullish crossover. The histogram has turned positive and is expanding gradually above the neutral line, reflecting strengthening directional strength.
Derivatives positioning reinforces improving sentiment, as data from CoinGlass on Binance’s Top Trader Long/Short Ratio shows 56.53% of accounts hold long positions. This distribution produces a Long/Short Ratio of 1.30, highlighting a clear bias toward bullish exposure among professional traders.
The OI-Weighted Funding Rate has turned positive at roughly 0.0776%, showing long traders are paying a premium to maintain positions. Positive funding typically emerges when demand for long exposure exceeds short positioning.
RIVER has entered a technically constructive phase as exchange outflows tighten supply. The current setup could support an extended rally if price continues building strength near the $20 resistance level.
