- The CRV coin bears reclaim the 20 EMA in the daily time frame chart
- The CRV/BTC pair was trading at 0.0005609 BTC with a loss of 5.37%
- The 24hr trading volume in CRV token is $343 Million
After rejecting $3.4 on September 16, the bull rally of CRV token entered into a minor retracement state. Such pullbacks are mostly healthy to maintain a stable rally; however, the price has dropped more than the expectation of the market bulls. By plotting the FIB levels, it is seen that token price has not yet crossed the 0.618 level, which is a good sign for coin buyers.
Concerning the EMA’s: The CRV token price is trading above the critical EMA 50, 100, and 200, indicating a bullish trend. The price is currently trying to have good support from the 50 EMA line.
RSI value is at 47indicating a bearish sentiment in the CRV token.
CRV Token May Enter Into A Consolidation Mode
The CRV token resonates between two crucial levels of $2.7 and $2, and the price has respected these levels twice. These two levels will require intense buying/selling pressure to be taken out, and till then, the price might keep fluctuating in a small range. The current price of CRV tokens is $2.31, with an intraday loss of 2.28%.
The moving average convergence/divergence indicator (BEARISH) shows that both the MACD and the signal line are moving below the neutral area(0.00) after giving a bearish crossover, which indicates a bearish momentum in the CRV token.
Conclusion: from the technical perspective, the overall trend of CRV token is still bullish, as the price is still sustaining above the 0.618 FIB level. The long traders of this coin can mark this level in their chart as the breakdown from this level will suspect the whole idea of retracement. Furthermore, the Crypto traders interested in this coin can use the small range mentioned above to trigger an entry opportunity after the breakout.
Support – $2
Resistance $2.7
