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altFINS
Apr 14, 2023 6:23 PM

CRV: Resistance Breakout Long

CRV / TetherUSBinance

Description

Trade setup: Price reached $1.25 resistance and pulled back to 200-day moving average, which could be an attractive swing entry in Uptrend with upside potential back to $1.25. It just broke back above $1.00 resistance level, indicating Uptrend continuation. Note that price made a Higher Low during this recent downswing, which is also a sign of Uptrend.

Trend: Uptrend across all time horizons (Short- Medium- and Long-Term).

Momentum is Bullish ( MACD Line is above MACD Signal Line and RSI is above 55).

Support and Resistance: Nearest Support Zone is $0.75, then $0.50. The nearest Resistance Zone is $1.00, which it broke, then $1.25.
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