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SSby u/swing_samirIndia·9hAnalysis

Watching $CRV at this level, potential breakdown

Been keeping an eye on $CRV today, and it's looking pretty precarious around the 0.3338 mark. Intraday, we saw a low down at 0.3154, and it's bounced a bit, but the overall structure on the hourly still looks heavy to me. If we fail to reclaim and hold above say, 0.345, I think there's a strong likelihood we test that intraday low again, and potentially push lower. The key risk to this view, obviously, would be a strong push back above 0.35107, which was the daily high. A sustained move above that would certainly invalidate the bearish pressure I'm seeing for the immediate term and suggest a re-evaluation of the current range. For now, the path of least resistance seems to be downwards, but I'm not taking any action until I see clearer confirmation one way or another.

2 comments · 6 points

2 Comments

IOu/iong·6h

Interesting take! I'm still trying to figure out how to best identify those key resistance levels. What tools or indicators do you find most helpful for confirming a breakdown?

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REu/rossi_eva·6h

That's an interesting take. What indicators are you seeing that make the hourly structure look so heavy? I'm still trying to get a handle on what signals a potential breakdown.

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