CRV has been in a long accumulation phase since 2022, suggesting selling pressure has weakened and buyers are slowly gaining control.
- The current price is around $1.0436, with RSI at 54.59, indicating mild bullish momentum above the neutral 50 line.
- A significant resistance lies at $2.6395, which aligns with a key historical structure and a psychological barrier.
- Major supports are found at $0.6001 and $0.4005, both levels from which price has previously bounced strongly.
- The chart shows a potential breakout above the short-term blue range, which would confirm bullish continuation.
- A monthly close above $1.10 would strengthen the bullish case toward the $2.6395 target.
- Long lower wicks on recent candles indicate strong buyer defense at lower prices.
- The risk-to-reward from current price to the $2.6395 target is attractive, exceeding 1:2 even with conservative stops.
- Holding above $1.00 for consecutive monthly closes will greatly increase the probability of a sustained rally.
- Overall momentum and structure lean bullish, with a projected upside potential of over 150% if the breakout holds.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.