đ View CRV/USDT chart on Binance (12H) đ
The 12-hour chart for CRV/USDT on Binance reveals several key technical indicators and patterns that could influence future price movements.
Moving averages (MA):
MA (7, 25, 99) đ: The CRV price is below all three moving averages, which confirms the bearish trend. These moving averages act as resistance levels to any potential recovery.
Ichimoku Cloud:
âïž The price is under the Ichimoku cloud, which is a classic bearish signal. The cloud presents significant resistance from above, and overcoming it will require significant effort.
Parabolic SAR (SAR):
đŽ SAR points are located above the price, which also supports the downward trend and serves as a signal to sell.
Support and resistance levels:
Support Level đ: The main support zone is around $0.2698. This is a key level that the price has already tested before.
Resistance Level đŁ: The main resistance is around $0.8810, where the price last reflected.
Trading volumes:
đ Volumes show stability at a low level, which may indicate a lack of interest in the asset in current price ranges.
Possible price movement scenarios đ
Bearish scenario: đ» If CRV breaks the support at $0.2698, it could lead to further decline in price. Selling may intensify if these key levels are broken.
Bullish scenario: đ For a reversal of the current trend, CRV must consolidate above the Ichimoku cloud and overcome the $0.8810 resistance, which now seems unlikely without significant fundamental changes or an increase in trading volumes.
Recommendations for traders đ
For sellers: Watch for price support under the Ichimoku cloud and SAR dots above the chart. Consider opening short positions on support breakouts with clearly defined stop losses.
For buyers: Look for confirmation of a breakout through the Ichimoku cloud and consolidation above it, which may indicate the beginning of an uptrend. Enter long positions after breaking through resistance levels with limited risk.
Conclusion đ
The current state of the CRV shows clear signs of a bearish trend with limited prospects for a rapid recovery. It is important to use an integrated approach, taking into account both technical indicators and market conditions, to formulate trading strategies.