The cryptocurrency market has been abuzz with news of RIVER's recent price surge, which has seen the coin jump by 60% in the past week. While this impressive gain has sparked enthusiasm among some traders, others are sounding cautionary notes about a potential pre-unlock trap.
According to analysts, the upcoming token unlock on March 22 is set to release over $12 million worth of tokens into the market, which could put downward pressure on prices if not absorbed by buyers. The RIVER price has been trading in a rising wedge pattern and recently faced resistance at $12, with some traders expecting a breakdown from this pattern may bring prices back down toward the 100 EMA support.
On the other hand, bullish analysts believe that strong TVL growth, staking participation, and steady trading volume could support recovery, potentially leading to a retest of the $22-$25 resistance zone. However, this scenario depends on supply absorption and stable macro conditions.