- CIVIC price has formed a bearish engulfing pattern. Meanwhile, the CVC/BTC pair is seeing a negative momentum with a loss of 2.42%.
- CVC bulls see a rise from the last three months. Meanwhile,the technical indicators show bearish momentum signs.
CIVIC is a blockchain based identity management solution company that provides necessary tool to the users to control and protect their personal identity information.CVC price projection shows a gain up to $0.9 in upcoming months.CVC is highly correlated with Monero and expects to grow further up to $1 by the end of next year.
CIVIC is currently ranked 139, with a market capitalization of $653,174,514.The volume ($$481,909,368) of the coin has seen an increase of 126% in the 24-hour time frame.
Bulls OF CVC Are Starting To Gear UP
The above graph shows the relation between bulls and bears of the coin. It tells how many addresses have bought or sold the token which is 1% above the total volume. CVC has seen an increase in the bulls in the market.
CVC token has seen a decrease of positive sentiment in the social media.This can be a sign for the price jump to lower levels
Technical Indicators Projects A Bearish Move For CVC Price
The weekly technical chart of CVC showcases a bullish momentum. On coming to the daily chart, CIVIC price is showing signs of a bearish move. CVC price is trading above 50 and 100 Moving Average. The 50MA price is at $0.433, making it temporary support for the coin. The coin’s resistance on the upside will be at $0.72, and on the downside, it will see a bounce back from $0.5.It has formed a bearish engulfing pattern in the 4-hour time frame. If the price breaks 10% below $0.6, then a bearish momentum can be seen.CVC price can see a downtrend below $0.5 in the upcoming days.
RSI(Bearish): It is currently trailing at 57.9, showcasing its presence in the neutral zone. There is negative slope formation in RSI, which suggests a bearish momentum. The overall sentiment of the RSI is bearish.
Conclusion
CVC price projects a downtrend for a short period.CIVIC price can reach up to $0.8 until the end of this bull season. The CVC/BTC pair can also see a downtrend. An Investor should do their due diligence before investing.
Technical Levels
Major Support:$0.5
Major Resistance:$0.72