Hello traders,
Here’s a quick analysis of CRV on the daily timeframe.
CRV is currently forming a symmetrical triangle and is facing resistance at $0.70. It has managed to stay above the 200 MA and has shown a solid rebound. At this point, it’s important for CRV to break and close above the resistance to continue its bullish momentum.
A rejection from this level could likely push the price back down to the 200 MA or the support trendline around $0.44.
The best approach is to wait for a confirmed breakout before entering the trade or consider accumulating near the bottom if a rejection occurs.
Note: Always do your own research before investing.
Regards,
Dexter
