The weekly chart, CRV/USDT, is still in a long-term downtrend, but within a large accumulation support zone, where strong surges have previously occurred.
The price has been following a large downward trendline since 2022, with each rally being rejected near that line and then retracing back towards the same horizontal green demand band around 0.35–0.45 USDT.
The current weekly candles are again parked in this green zone, which has repeatedly acted as a floor over the past few years, suggesting a higher-timeframe accumulation or base rather than a new breakdown so far.
The bullish view on the chart shows a rounded bottom forming at this support, followed by a potential move towards the downward trendline and then a breakout towards the 1.00–1.50 region if buyers can maintain momentum.
The bearish risk is that a clean weekly close below the green zone will invalidate the base and make room for a new lower low, so this support acts as a key invalidation zone for any medium to long-term bias.
DYOR | NFA
The price has been following a large downward trendline since 2022, with each rally being rejected near that line and then retracing back towards the same horizontal green demand band around 0.35–0.45 USDT.
The current weekly candles are again parked in this green zone, which has repeatedly acted as a floor over the past few years, suggesting a higher-timeframe accumulation or base rather than a new breakdown so far.
The bullish view on the chart shows a rounded bottom forming at this support, followed by a potential move towards the downward trendline and then a breakout towards the 1.00–1.50 region if buyers can maintain momentum.
The bearish risk is that a clean weekly close below the green zone will invalidate the base and make room for a new lower low, so this support acts as a key invalidation zone for any medium to long-term bias.
DYOR | NFA
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