- CRV forms a textbook cup-and-handle pattern as it holds above $0.60 with bullish momentum building near the neckline zone.
- Price action between $0.58 and $0.64 acts as a solid launchpad while buyers continue testing resistance at the $0.60–$0.63 neckline.
- A breakout above $0.63 could trigger a rally toward $1.20 with higher lows and strong structure confirming a bullish reversal setup.
CRV/USDT is showing strong technical signals on the 1-day timeframe, suggesting a potential bullish reversal. The price recently formed a rounded bottom from early February to April, often signaling a shift from bearish to bullish momentum. This development aligns with CRV’s current structure, which includes a classic cup-and-handle pattern. Significantly, the neckline between $0.60 and $0.63 has become a critical zone for traders. The market is testing this area repeatedly, hinting at growing buyer strength.
Besides the neckline pressure, CRV has held above the $0.60 level. The price is consolidating between $0.58 and $0.64, showing sustained support. This rectangular range now functions as a launchpad. Moreover, recent candle wicks show heightened volatility. Buyers and sellers are active around this zone, adding fuel to the next move. Consequently, if bulls succeed in pushing above the neckline, a rapid surge could follow. The breakout target stands near $1.20, based on the depth of the cup added to the neckline.
Pattern Symmetry and Volume Implications
The structure remains symmetrical, with both sides of the cup displaying smooth accumulation. Additionally, the handle is forming without major rejection. This behavior reflects a healthy consolidation phase. Each pullback finds support above the neckline, which further validates the bullish scenario. However, the price must overcome a supply zone.
This horizontal resistance between $0.80 and $0.88 marks a major barrier. It previously acted as support in December 2024. Now, it could challenge bullish continuation. However, sustained pressure near the neckline increases the odds of a breakout. Although volume data is absent, the candlestick formation hints at rising market participation.
Moreover, the market has shifted from a long-term downtrend into a clear basing structure. CRV is printing higher lows and showing early bullish intent. Holding above the $0.60 neckline strengthens the bullish thesis. As long as this level holds, the handle remains intact. The bullish formation stays valid and active.
