CRVUSDT Potential Consolidation and Upside Breakout in Sight💎Currently, #CRVUSDT has reclaimed its position above the demand area and the 50 Exponential Moving Average, indicating a positive shift in the price action. Furthermore, the price remains above the uptrend trendline, while the downtrend trendline has yet to be tested. This consolidation between the two trendlines suggests a period of potential consolidation until a decisive breakout occurs, either to the downside or the upside.
💎However, based on recent price movements, the probability now favors an upside break, which could lead to a notable surge in #CRV. Chart analysis reveals the presence of three Fibonacci-based resistance levels. It is crucial to closely monitor the second resistance level, which aligns with the 261.8% Fibonacci retracement level. This level holds significance for two reasons: it is a double Fibonacci level, confirmed by the 261.8% and 61.8% Fibs, and it coincides with the psychological round number of $1.00.
💎Naturally, if #CRV experiences a confirmed daily break and closes below the recent lower low, our bullish outlook would be invalidated, potentially inviting more selling pressure. However, as long as the price remains within the established trendlines, the potential for an upside breakout remains.
Stay alert, Paradisers, as we closely monitor #CRVUSDT and await the decisive move that will shape its future trajectory.
