🚨 A 3-minute technical read on coin
$CRV : 3 consecutive breakouts amid the red candles.. Are we looking at the start of a real uptrend? 🚀
If you look closely at the recent red candle movement, you’ll notice something striking: the price attempted to break out and rise 3 times in a row from the heart of the selling pressure, before that strong green candle (indicated by the arrow) “exploded,” restoring balance and pushing the price to $0.3458 with a daily gain of +6.56%.
:
* The three breakout attempts: The wick and the bounce across the three consecutive red candles indicate that buying power (Buyers) was gradually absorbing the sell pressure and preventing the price from falling below the $0.3421 support level.
* Confirming the green candle: The final green candle came to confirm the price’s reaction and translate those attempts into an actual move upward toward the middle line of the Bollinger indicator (MB: $0.3460).
* The next target: Keeping the candles above $0.3460 paves the way to test the upper Bollinger band at $0.3490, then the 24-hour high at $0.3519.
⚠️ Warning to traders:
Despite the apparent bullishness in the candle read, small timeframes (3 minutes) change quickly. Always manage risk and set a stop-loss order below the low at $0.3421.
💬 Share your take: Do you think the three attempts are enough to drive the coin toward breaking the 0.35$ levels, or will we see a retest of support?
#CRV #CRVUSDC #BinanceSquare #CryptoTrading