Hello traders and community, today I will tell you shortly about the situation of CRV/USDT
Trend analysis
- As you can see from the CRV/USDT daily chart, the price of CRV started moving upward for testing current resistance zone (red rectangle) and so forming bullish W pattern. Right now CRV is still in range trend between two main zones (green and red rectangle), and we as traders need to wait for a breakout to open our trade position for making profit. As a trader, I recommend to put long position up to 2,9 price level for lowering risks (possible scenario on the chart). Resistance level is situated on 2,945 price level and Support level is located near 1,704 pricel level. Overall trend of this pair stays bullish and therefore it's great opportunity for trading and investing. Always check trustworthy signals before open your trade position!
Chart pattern
- Range pattern (functioning)
- Bullish W pattern (forming)
Technical indicators
- RSI: market is still in boarders and is located near 50 level (not overheated, Bull signal)
- MACD: MAs are prepared for upward movement + they get closer to each other (Bull signal)
- BB: Volatility of the market started stabilizing after volatile movement accomplished (Neutral signal)
- MA (10,20): MA10 is going upward to the level of MA20 (Bull signal)
= Overall bull signal movement
Dear friends, please push the like button, write comments below, follow me for more technical analysis and share this post with other traders - that would be the best support, Thank you for your attention!
Tell us about your opinion for making better decisions in trading :)
P.S.: Information provided is only educational and should not be used to take action in the market.
Trend analysis
- As you can see from the CRV/USDT daily chart, the price of CRV started moving upward for testing current resistance zone (red rectangle) and so forming bullish W pattern. Right now CRV is still in range trend between two main zones (green and red rectangle), and we as traders need to wait for a breakout to open our trade position for making profit. As a trader, I recommend to put long position up to 2,9 price level for lowering risks (possible scenario on the chart). Resistance level is situated on 2,945 price level and Support level is located near 1,704 pricel level. Overall trend of this pair stays bullish and therefore it's great opportunity for trading and investing. Always check trustworthy signals before open your trade position!
Chart pattern
- Range pattern (functioning)
- Bullish W pattern (forming)
Technical indicators
- RSI: market is still in boarders and is located near 50 level (not overheated, Bull signal)
- MACD: MAs are prepared for upward movement + they get closer to each other (Bull signal)
- BB: Volatility of the market started stabilizing after volatile movement accomplished (Neutral signal)
- MA (10,20): MA10 is going upward to the level of MA20 (Bull signal)
= Overall bull signal movement
Dear friends, please push the like button, write comments below, follow me for more technical analysis and share this post with other traders - that would be the best support, Thank you for your attention!
Tell us about your opinion for making better decisions in trading :)
P.S.: Information provided is only educational and should not be used to take action in the market.