CRV’s sharp drop into the $0.62 zone may invite mid-term accumulation, but short-term setups remain unconfirmed for now.
The breached 50EMA near $0.7050 now acts as a ceiling, aligning with resistance and reinforcing bearish market structure.
Until CRV price reclaims $0.7200 or forms a solid base, bulls face strong overhead pressure and limited momentum to the upside.
CRV dropped sharply from its recent local high near $0.84, retracing toward a demand zone around $0.62. This sell-off broke through multiple support layers and dragged the price below the 50-period EMA. Although there was a slight bounce, bearish pressure remains dominant across nearby resistance levels.
As we can see from the post above, this is a bullish analysis by CJ, who identifies a key support sweep. The analyst believes that tagging the blue level was essential before any sustainable reversal attempt could take shape. However, CJ does not expect an immediate price recovery, preferring to see consolidation or deeper testing within this range. He suggests that the CRV price could form an accumulation pattern or reclaim the previous swing low to confirm bullish intent.
According to the analyst, this current zone presents an attractive opportunity for those with a six-month investment horizon. Medium-term accumulation here could offer a favorable risk-to-reward setup heading into year-end. But when it comes to short-term swing trades, the analyst advises patience.
The area represents CRV’s first significant dip into support, and the analyst wants confirmation before taking action. He stresses the importance of structure forming, such as a defined range or strong reclaim, to validate a trade setup. Until those signs appear, short-term entries remain speculative.
The analyst notes that the breached 50-period EMA now acts as a key resistance line near $0.7050. This moving average has turned downward and converges with the lower bound of the first resistance block. That overlap reinforces the challenge bulls face in reclaiming upside control.
On top of that, the region between $0.7180 and $0.8380 continues to serve as a strong supply zone. CRV’s price failed to break through this band during the last rebound attempt, underlining seller dominance. Although buyers defended the $0.6280 range briefly, momentum faded quickly beneath the trendline.
The analyst adds that reclaiming $0.7200 is essential to shift short-term bias. Until then, the structure remains tilted toward caution. A weekly close above resistance or strong accumulation patterns will be key to determining the next leg.
The post CRV Hits Demand Zone at $0.62, but Analyst Warns Setup Still Needs Confirmation appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
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CRV Hits Demand Zone at $0.62, but Analyst Warns Setup Still Needs Confirmation
CRV’s sharp drop into the $0.62 zone may invite mid-term accumulation, but short-term setups remain unconfirmed for now.
The breached 50EMA near $0.7050 now acts as a ceiling, aligning with resistance and reinforcing bearish market structure.
Until CRV price reclaims $0.7200 or forms a solid base, bulls face strong overhead pressure and limited momentum to the upside.
CRV dropped sharply from its recent local high near $0.84, retracing toward a demand zone around $0.62. This sell-off broke through multiple support layers and dragged the price below the 50-period EMA. Although there was a slight bounce, bearish pressure remains dominant across nearby resistance levels.
As we can see from the post above, this is a bullish analysis by CJ, who identifies a key support sweep. The analyst believes that tagging the blue level was essential before any sustainable reversal attempt could take shape. However, CJ does not expect an immediate price recovery, preferring to see consolidation or deeper testing within this range. He suggests that the CRV price could form an accumulation pattern or reclaim the previous swing low to confirm bullish intent.
According to the analyst, this current zone presents an attractive opportunity for those with a six-month investment horizon. Medium-term accumulation here could offer a favorable risk-to-reward setup heading into year-end. But when it comes to short-term swing trades, the analyst advises patience.
The area represents CRV’s first significant dip into support, and the analyst wants confirmation before taking action. He stresses the importance of structure forming, such as a defined range or strong reclaim, to validate a trade setup. Until those signs appear, short-term entries remain speculative.
Technical Structure Confirms Overhead Pressure Remains
The analyst notes that the breached 50-period EMA now acts as a key resistance line near $0.7050. This moving average has turned downward and converges with the lower bound of the first resistance block. That overlap reinforces the challenge bulls face in reclaiming upside control.
On top of that, the region between $0.7180 and $0.8380 continues to serve as a strong supply zone. CRV’s price failed to break through this band during the last rebound attempt, underlining seller dominance. Although buyers defended the $0.6280 range briefly, momentum faded quickly beneath the trendline.
The analyst adds that reclaiming $0.7200 is essential to shift short-term bias. Until then, the structure remains tilted toward caution. A weekly close above resistance or strong accumulation patterns will be key to determining the next leg.
The post CRV Hits Demand Zone at $0.62, but Analyst Warns Setup Still Needs Confirmation appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.