The cryptocurrency RIVER surged approximately 34% over 24 hours, marking the largest gain in the market. Despite the sharp price rally, investor sentiment weakened, with bullish positioning dropping from 82% to 58%. Technical indicators like the MACD and RSI suggest upward momentum remains, but a key resistance zone poses a threat of a pullback.
The altcoin RIVER staged a decisive move, recording the largest gain across the crypto market. Buyer sentiment tilted sharply in favor of the bulls during this period.
Despite the rally, investor sentiment weakened notably. Only 58% of investors maintained a bullish stance as of press time, down from 82% earlier in the day.
Technical indicators show price momentum remains firmly intact. The Moving Average Convergence Divergence (MACD) neared positive territory, signaling a bullish market structure.
The continued expansion of green histogram bars reinforced the view that upward momentum strengthened. This pattern typically reflects sustained buying pressure.
Similarly, the Relative Strength Index (RSI) hovered near 55, suggesting buyers still dominated. The altcoin remained below overbought conditions, leaving room for additional upside.
However, a significant resistance level stood directly ahead. This zone previously triggered a price rejection and remains a critical level.
If RIVER fails to break above this zone, a pullback could become increasingly likely. A rejection could see the asset decline toward the $12.24 region, “implying an average correction of roughly 38%.”
In the short term, derivatives market data support the possibility of continued upside. Open Interest increased by $27.2 million, bringing the total to $125.16 million.
Meanwhile, Funding Rates turned positive and read 0.0078%. This meant long positions paid shorts, reflecting a bullish bias in perpetual futures markets.
The combination of rising Open Interest and positive Funding Rates suggested fresh capital entered the market. If technical indicators continue trending upward, RIVER could extend its rebound.
