CRV Technical Analysis: Can Buyers Beat This Opposing SMA?

The CRV prices show a bullish reversal from the psychological mark of $1 to challenge the opposing 100-day SMA and reach the $1.50 mark. Key Technical Points: The CRV prices jumped by 8.22% in the last 24 hours. The price action shows a retest of the broken support trendline. The 24-hour trading volume of Curve Finance is $240 million, indicating a drop of 30%. Past Performance of CRV As teased in our previous article, the downfall in CRV prices was inevitable after the fall out of the 100-day SMA resulting in a drop to the psychological mark of $1. However, the buyers quickly regained trend control with a Morning Star pattern resulting in a 30% jump, but the buyers are yet to exceed the 100-day SMA. Furthermore, the opposing SMA influences a bearish candle with hopes of undermining the reversal Morning Star pattern. Source – Tradingview CRV Technical Analysis Despite the recent bullish reversal, the CRV prices are yet to regain the support trendline. Moreover, the bearish candle creates an atmosphere of a retest phase and generates fear among the investors. Currently, the buyers are struggling to beat the sellers at 100-day SMA, as evident by the bearish candle forming in the daily chart. However, in case of a bullish breakout, the uptrend will surpass the broken support trendline and might jump above the overhead resistance of $1.5. The increased selling pressure due to the support trend line fallout influences a merger betw...