Crypto
CRV Stalls at Upper Bollinger Band as Breakout Risks
CRV is approaching its upper Bollinger Band at $0.37 after pushing past several major moving averages, including the 7-day and 200-day SMAs.
The momentum has stalled, with a zero-histogram reading on the MACD and signal line.
A break above $0.41 would open up the door to further gains, but the current setup bears some similarities to prior 'squeeze-and-stall' patterns seen at similar price levels.
Despite smart money being long, open interest has dropped 8.71% in 24 hours, suggesting a lack of conviction among latecomers.
The taker buy/sell ratio is sitting at 0.83, indicating more aggressive selling than buying, and the top traders' long/short ratio is 1.70, meaning institutional desks are still heavily long.