CRV Price Stuck in Key Support Zone
CRV has been hit hard after a nearly 8% single-session drop in price. The token is now sitting on key support at $0.34, with momentum having gone completely flatlined. The MACD histogram has zeroed out, indicating that the prior bullish impulse has fully exhausted itself.
The bulls haven't lost the long-term trend yet, but they have lost the short-term narrative. CRV is still trading $0.06 above its SMA 50 at $0.28 and a full ten cents above the SMA 200 at $0.24. The question now is whether this is a shakeout or the beginning of a structural rollover.
The chart comes down to three numbers: $0.33, $0.36, and $0.28. If $0.33 holds as support, it could lead to a short squeeze, but if it fails, the trade is short toward $0.31 and then $0.28. The SMA 50 at $0.28 is the logical magnet for a breakdown.