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?
<h3>Key Points:</h3>
<ul>
 	<li style="font-weight: 400">The Curve Dao prices show a consolidation range breakout. </li>
 	<li style="font-weight: 400">The fallout rally crosses under the $1 mark.</li>
 	<li style="font-weight: 400">The intraday trading volume in Curve Dao is $116 Million.</li>
</ul>
<img class="alignnone" src="https://s3.tradingview.com/snapshots/h/hMQKiNvp.png" alt="CRV Price Chart" width="2047" height="1006" />

Source-<a href="https://www.tradingview.com/x/hMQKiNvp/">Tradingview</a>
<h2>CRV Technical Analysis</h2>
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 above the breached support of $1, the buyers will attempt to reclaim the $1.25 milestone.
<h2>Technical Indicator</h2>
The RSI slope dives deeper into bearish territory, indicating the negative sentient rising among the market sentiment. Moreover, the MACD and signal lines reflect a sell signal with a bearish crossover below the midline mark. 

Therefore, the technical indicators accentuate a rise in selling pressure. As a result, the CRV technical analysis bolsters the continuation of the prevailing downtrend.

Resistance levels- $1 and $1.18

Support levels-  $0.84 and $0.55

CRV Technical Analysis: CRV Crashes With Range Breakout 

The CRV technical analysis shows an increase in selling pressure leading to a bearish breakout of the consolidation range.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

CRV Technical Analysis: CRV Crashes With Range Breakout

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