Powerpool (CVP) Breakdown | 1,135% Back To BaselineGood morning my fellow traders,
Here we can see a major breakdown on the Powerpool (CVPUSDT) chart, when such an unnatural move happens the market tends to seek balance. In this case, this would create a recovery sending prices up to a minimum of 0.400, which is the baseline level. This is the middle range of the long-term consolidation structure that developed between mid-2022 and late 2024.
This recovery is already apparent as we are seeing the highest buy volume ever in a single week, in the first week of September and then again the second highest buying in a week in the current session.
A move higher would only be a natural reaction from the market as a retest of resistance. If we consider a bull-market and bullish sentiment, this baseline resistance level can be broken and even higher becomes possible.
We are potentially looking at bottom prices as this pair/chart already went through a major crash. Sellers were active for five weeks straight and it is the turn for the bulls to join the market and play. This is an easy call. Buy and hold.
Namaste.
