The CRV technical analysis shows an increase in selling pressure leading to a bearish breakout of the consolidation range. The CRV price action shows a bearish engulfing candle with a 13% fall, leading to a bearish breakout of a consolidation range in the daily chart. Furthermore, the spike in trading volume reflects a rise in the selling spree. So, will the breakout rally decrease Curve Dao market value to the $0.55 mark? Key points: The Curve Dao prices show a consolidation range breakout. The fallout rally crosses under the $1 mark. The intraday trading volume in Curve Dao is $116 Million. Source-Tradingview CRV Technical Analysis The CRV price action displayed a consolidation range in the daily chart between the $1 and the $1.18 mark, ranging for over a month. However, the recent bear cycle starting after reversing from the 50-day EMA breaks the consolidation range. The increase in selling pressure last weekend broke the psychological mark of $1, which may further prolong the downtrend after the retest. The bearish breakdown of the demand level finds bearish commitment with a spike in the intraday trading volume. Hence, the volume analysis reflects a stronger bearish side. The post-retest downfall will allow sellers to pull the CRV prices to cross under $0.84 to fuel the downtrend. Potentially, the downtrend can show a 37.5% fall to hit the June low support of $0.55. On the flip side, if the retest phase fails to sustain a...
