CRV eyes a 70% surge if it holds the critical $0.3566 support, signaling a bullish reversal toward the $0.60 resistance level.
XRP's short-term outperformance may ignite CRV's breakout momentum, potentially targeting the $2 region in the coming weeks.
A decisive breakout above $0.50 resistance could confirm bullish strength, but failure to hold $0.3566 support risks downside continuation.
The CRV/USDT on Binance signals price action, with analysts predicting major upward momentum. According to analyst CrediBULL Crypto, CRV could surge by over 70% following a potential short-term XRP outperformance. After weeks of bearish pressure and consolidation, CRV's price shows signs of stabilization at critical support levels.
Currently trading at $0.4394, CRV faces resistance near $0.50, which it failed to breach on its recent upward move. However, analysts expect a minor 15-20% retracement, targeting the horizontal support zone around $0.3566. This region has acted as a strong foundation for price reversals throughout the year. If the price holds this level, it could spark a bullish impulse toward key resistance.
https://twitter.com/CredibleCrypto/status/1869113205831750002 Support Zones Reinforce Bullish Potential
The green-shaded area around $0.3566 remains crucial for price stability. It has repeatedly served as robust support, preventing further downsides. Besides, buyers appear to be testing this level once again, indicating growing market confidence. If CRV rebounds from this support zone, it may trigger a sharp move upward, confirming a bullish reversal.
Notably, the Fibonacci retracement levels align with this projection. A breakout above $0.50 resistance could send CRV soaring toward the $0.60 region, a 71.55% increase from current levels. Significantly, this level coincides with key resistance that traders are closely monitoring.
XRP's Breakout Could Signal CRV’s Move
CrediBULL Crypto suggests a two-step scenario for CRV’s breakout. First, XRP is expected to outperform CRV briefly by around 15%, signaling bullish momentum for the broader market. Subsequently, CRV could take off aggressively, targeting the long-discussed $2 region in the coming weeks.
Moreover, this bullish outlook is supported by lower timeframe indicators, which reflect rising demand. A decisive move above $0.50 would confirm buyers' strength and invalidate the bearish trend. However, if CRV fails to hold the $0.3566 support, the further downside remains possible, limiting the bullish scenario.
The post CRV Nears $0.50 Resistance: Can Bulls Push Toward $0.60 and Beyond? appeared first on Crypto News Land.
