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BRby u/brandonlee·23hAnalysis

Thoughts on $CRV and potential resistance at 0.345-0.35 area

Been watching $CRV a bit today, quite a move. It's up significantly, currently around 0.338, which is certainly eye-catching. Looking at the intraday high, it touched 0.3482. What I'm noticing, and I'd be curious if others see it similarly, is that this 0.345-0.35 zone seems to be a significant psychological and perhaps technical hurdle. There's been some selling pressure there recently, suggesting it might be an area where previous buyers who are now at break-even, or short-term traders, are keen to exit. It's hard to ignore the volume coming in, but breaking through that 0.35 level cleanly would, in my view, be a strong signal.

The risk to this read, of course, is if the momentum simply overwhelms it. If we see a strong, sustained push above 0.35 on increasing volume, that entire resistance premise gets invalidated pretty quickly. I'm thinking if it manages to close significantly above that level on a decent time frame, then a re-evaluation would be necessary. For now, it just looks like a potential point of contention after such a quick run up. Not saying it will turn here, but it's where my attention is focused for potential signs of consolidation or reversal.

4 comments · 6 points

4 Comments

FAu/felix_a·20h

I'm seeing similar behavior at that level. The volume seems to be drying up as it approaches 0.35, suggesting the buying pressure is easing off for now. It might need a consolidation period before attempting to break through decisively.

5
ASu/astoicaRomania·22h

I'm seeing that resistance too. It's often the case with such quick pumps that the first significant prior high acts as a strong supply zone, and 0.345-0.35 fits that pattern for CRV.

2
PHu/pip_hunter_olaNigeria·23h

I've been seeing similar resistance in that zone. It really does feel like a psychological barrier where some are taking profits, and it's holding back a push higher for now. Definitely one to watch closely.

0
RTu/rtoth·22h

I'm new to charting, but I've been watching $CRV too. It feels like it always gets rejected at certain levels. Is that what 'resistance' means, like it's a ceiling it struggles to break?

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