CRV Technical Analysis: Consolidation Breakout Warns 20% Drop

The CRV Technical Analysis offers a selling opportunity as the breakout rally of the consolidation range gains momentum to reach $0.68. The CRV price action highlights an increase in the bearish influence over the consolidation range resulting in a bearish breakdown. Furthermore, the price action displays the daily candle gaining bearish momentum, signaling a selling opportunity for sideline traders. So, will the downtrend reach the bottom support level of 0.68? Key Points: The Curve Dao price action shows a bearish breakout entry opportunity. The price jump crosses under the $0.84 support level. The intraday trading volume in Curve Dao is $45.67 million. Source – TradingView CRV Technical Analysis As mentioned in our previous analysis, the increasing bearish influence led to a bearish breakout of a consolidation range in the CRV prices. Additionally, the declining trend responsible for the bearish breakout accounts for a 10% drop last week. The downtrend increases the bearish momentum in the crucial daily EMAs (50,100,200), reflecting a solid underlying bearishness. Currently, the daily candle shows a 2.86% drop and crosses under the support level of $0.84, signaling a selling opportunity. However, the lack of trading volume questions the bearish credibility, which might result in a bounce back above $0.84. If the selling pressure grows over the day, the Curve Dao market price will drop to $0.68, accounting for a 20% decline....