This wave up could be followed by another impulsive move north as it was the first time since 4th of October when CVC/USD managed to break and close above the channel and the moving average.
The price action does suggest that Civic is ready to revers to produce a new all-time high. The very strong resistance is at $0.83 area that corresponds with two levels applied to the corrective waves after the descending channels breakout. However, there are few obstacles on the way such as first resistance at $0.4 and $0.6 areas.
The downside move could only continue if Civic will manage to close below the $0.25 support.
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