$CVC

Potential Retracement of CVC/USDT:

Based on the image, retracement levels can be estimated based on:

1. Nearby support and resistance levels.

2. Recent price movement and market trend.

3. Trading volume and Relative Strength Index (RSI).

⸻

Potential Retracement Levels:

1. First Retracement (Nearby Resistance):

• If the price rebounds from the current support level of 0.1287, it may reach the level of 0.1400 (a resistance level close to the current price).

2. Second Retracement (Strong Resistance):

• In case of increased positive trading volume, the price could reach 0.1500, which is the resistance level recorded previously.

3. Third Retracement (Distant Resistance):

• If there is strong buying momentum, the retracement could extend to 0.1613 (recent high).

⸻

Supporting Factors for Retracement:

• High Trading Volume: If it significantly increases above the daily average.

• Improvement in Relative Strength Index (RSI): If it approaches or exceeds 50.

• Positive news or improvement in the overall cryptocurrency market.

Negative Scenario:

• If the price breaks below the support level of 0.1287, it may drop to 0.1200 or lower.