CRV Technical Analysis: Will The Consolidating CRV Prices Fall To $0.84?

CRV technical analysis shows a consolidation range growing in the daily chart, but the growing bearishness warns of a downfall below $1. The CRV price chart shows a consolidation range about the psychological mark of $1 with the overhead assistance of $1.18 and the 50-day EMA. However, the recent bearish engulfing candle projects the possibility of a downfall below the crucial support of $1.0. So, should you consider booking profits before the buyers lose control of the crucial support level? Key Points: The CRV price action shows a bearish engulfing candle of a 9.96% fall. A downfall below $1.0 will result in a 16% fall to the $0.84 mark. The intraday trading volume in Curve Dao is $137 million, indicating a 23% gain. Source – TradingView CRV Technical Analysis The CRV prices take support at the psychological mark of $1.0 after a 30% downfall in August, leading to a sideways trend under the 50-day EMA. The consultation range shows a failed double bottom and double top pattern. Also, the recent bearish engulfing candle reflects an increase in the underlying selling pressure. The increase in intraday trading volumes supports the bearish engulfing candle. Therefore, it increases the downtrend possibility below the psychological mark of $1.0. However, the traders must wait for a price action confirmation before taking a bearish position, as the RSI indicator displays a bullish divergence. If the intraday candle closes below $1.0,...