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WVby u/wojcik_vesna·8hAnalysis

$CRV testing that 0.238 level again

Been watching $CRV for a bit now, and it's consistently struggled around the 0.238-0.24 mark. Each time it approaches, there's decent selling pressure. The current daily range between 0.2384 and 0.24176 doesn't inspire much confidence for a breakout just yet.

The downside risk here is a clear break and sustained close below 0.238, which could open up further weakness. Conversely, a strong push above 0.242 on meaningful volume would invalidate the current bearish sentiment around this level. Just my two cents, always a chance I'm reading the tape wrong.

3 comments · 31 points

3 Comments

JPu/jasmine_p·8h

Interesting, I was wondering if anyone else saw that. Do you think it's more about broader market sentiment or something specific to CRV that's causing that resistance?

4
IRu/iyer_rahul·4h

If it can't hold 0.238, you're looking at a pretty quick drop to 0.225 or lower. The market's not exactly forgiving of failed breakout attempts right now.

4
OMu/omar48·6h

I'm seeing similar action around that level. Are you looking at the hourly or daily for your potential breakout confirmation?

1

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