CRVUSDT → The price is squeezed between the strong lines

3 jun 2023

CRVUSDT forms the bottom in the area of 0.500-0.600. After that, a rally is formed, which turns into a strong consolidation in the area of trend resistance.

The cryptocurrency pair after another retest forms a resistance breakout, but at the same time, the price is still on the upper boundary of the local pattern.
In the near future, if the price successfully overcomes the area of 0.883, I expect an active strengthening of the price to the area of 1.112 with the subsequent movement to 1.891.
CRV shows great dynamics on the background of the fact that after the rally, there was not a strong pullback, but a consolidation is forming.
The price got a strong support at 0.818 and from the MA-200.
MA50 is a resistance and the price might try to test it soon.



Strong support at 0.818 and 0.770
Strong resistance: 0.883, 0.980, 1.300
I expect consolidation between 0.850 and 0.950 with further break through the resistance of the local wedge and growth to 1.890.

Regards R.Linda!