RIVER Crypto Price Targets $100 – Can Bulls Handle the 364K Token Unlock?

RIVER crypto has surged by over 27% in the past 24 hours, positioning itself among the top gainers and most sought-after tokens. This altcoin's growth was fueled by volume and liquidity, highlighted by a Volume-to-Marketcap Ratio of 10%. The spike in volume primarily stemmed from its listing on the South Korean exchange, Coinone, whereas the Bitget exchange accounted for the highest volume share at around 35%. In addition, the stablecoin abstraction chain experienced increased network activity, with the circulating supply of satUSD reaching $159 million. The user base grew to 870,736, and the Total Value Locked (TVL) surpassed $316 million.

Key Takeaways:

RIVER crypto has surged over 27% recently, driven by increased volume and liquidity.
RIVER has shown an upward trend, with potential to reach $100 if it maintains above $37-$43.
Network activity has been inconsistent, with a significant drop in transfer amounts and unique users.
Upcoming token unlocks on January 22 may create sell pressure, impacting price stability.

RIVER Price Set for New Heights

RIVER has been on an upward trajectory since the beginning of the year, with demand closely following suit. The price has bounced off the ascending trendline three times, approaching its peak at $43. The MACD shows green bars, indicating buyer strength and dominance on the 4-hour chart. At the time of writing, the On Balance Volume (OBV) rose to nearly $1 million. Arthur Hayes, Chief of Maelstrom, predicts that the coin could hit $100, and current market activities lend credence to this forecast.

RIVER

Source: TradingView

However, this peak may act as a potential resistance level. Typically, assets may pull back from their peak prices even during an ongoing uptrend, due to profit-taking behaviors. For RIVER to reach its ambitious $100 target, it must not only surpass but also maintain a position above the $37-$43 range. Falling below this area could lead to a revisit of the ascending support levels or even a breakdown.

Network Activity Shows Variability

Examining the network activity on Etherscan reveals a somewhat unclear scenario. While activity levels were strong on certain days since January, they failed to maintain consistent momentum. The first day of the year marked the highest activity, but in the past 24 hours, the transfer amount has dwindled to just 1967 RIVER. Mid-January showed some uptick to 3,779 RIVER, with only 65 unique users noted on those days. As of the current reporting time, transfer counts have risen to 217, and unique users have reached 75, surpassing the mid-month levels.

Source: Etherscan

The fluctuations in transfer amounts and user numbers suggest inconsistencies, with investors bracing for potential sell pressure from the upcoming token unlocks.

Impending Sell Pressure on the Horizon

While network activity lacks clarity regarding future price movements, the token unlock slated for January 22 could potentially reverse current gains. According to data from CoinGlass, approximately 364K RIVER tokens are expected to be released into circulation—representing 0.36% of the total supply. If substantial sell pressure occurs, it might entrap current buyers. Currently, the token has around 15.66% of its supply in circulation, with a significant 54.34% locked and 30% remaining untracked.

RIVER

Source: CoinGlass

Overall, while the current structure appears bullish and aims toward a peak, the sell pressure and inconsistent network activity may undermine this optimistic view.

Key Takeaways:

RIVER Price Set for New Heights

Network Activity Shows Variability

Impending Sell Pressure on the Horizon

Final Thoughts