Below is the description of the accumulation phase potential development of the CRV/USDT cryptocurrency pair.
After reaching a local minimum in November 2022, when CRV was trading around $0.3982, there was a convincing upward movement that led to a significant increase to $1.29. During this period, the asset demonstrated a growth of more than 225%. Subsequently, the asset gradually declined, reaching a new local minimum at $0.3882.
During the price decrease, a descending trading channel was formed. At the moment, the asset is testing the upper boundary of this channel, which is occurring at the level of $0.6382.
Considering the current trends, we can assume that the asset is preparing to overcome the upper boundary of the trading channel. This could happen after a small corrective pullback to the average price within the descending channel.
Following a successful breakout above the upper boundary of the channel and a subsequent retest with a possible bounce from it, a positive signal for further growth of the asset can be expected. This scenario could indicate movement towards a price maximum at the level of $1.29.
After reaching a local minimum in November 2022, when CRV was trading around $0.3982, there was a convincing upward movement that led to a significant increase to $1.29. During this period, the asset demonstrated a growth of more than 225%. Subsequently, the asset gradually declined, reaching a new local minimum at $0.3882.
During the price decrease, a descending trading channel was formed. At the moment, the asset is testing the upper boundary of this channel, which is occurring at the level of $0.6382.
Considering the current trends, we can assume that the asset is preparing to overcome the upper boundary of the trading channel. This could happen after a small corrective pullback to the average price within the descending channel.
Following a successful breakout above the upper boundary of the channel and a subsequent retest with a possible bounce from it, a positive signal for further growth of the asset can be expected. This scenario could indicate movement towards a price maximum at the level of $1.29.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.