CRV Technical Analysis: Will This Rising Channel Sustain Above $4.5?

The CRV Technical Analysis shows a consolidation range cushioning the downtrend at $0.85, avoiding a drop to the $0.56 mark. The CRV price action shows a month-long consolidation range between the $0.85 and $1 mark. However, the price action displays a trend of lower highs within the field, reflecting an increase in bearish influence. So, will the increased selling of Curve Dao break the consolidation range? Key Points: The Curve Dao price action shows a lateral trend between $0.85 and $1. The spike in selling pressure warns of a high-momentum bear cycle. The intraday trading volume in Curve Dao is $61.63 million. Source – TradingView CRV Technical Analysis The CRV price action exhibits the bearish breakdown of the psychological mark of $1, leading to a consolidation range with the bottom support level of $0.85. The price trend has been trapped within the consolidation range for the past month, keeping a lateral trend. Currently, the Curve Dao price action displays a higher price rejection candle rejection of 1.71% with a spike in trading volume. Moreover, the present daily candle teases a bearish follow-through due to the long-wick formation. If the selling pressure increases, the Curve Dao price action will offer a bearish breakdown entry opportunity to sideline traders. The $0.85 breakout rally will test the horizontal support level at $0.68. Conversely, the bullish reversal will reach the overhead resistance of the consoli...