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CRV is currently in a critical period of intertwined bullish and bearish trends, with the 1-hour chart indicating that the market is searching for direction.
Currently, the CRV price hovers around 0.936, at the upper end of the bullish defense zone. Above this range is the market equilibrium point at 0.953, which is also where the midline of the Bollinger Bands is located; breaking through and stabilizing at this level will put pressure on the bears.
The short control zone starts at 1.006, which is the position of the upper Bollinger Band. Below this, 0.985 serves as the high point from July 23, and is also an important resistance level.
On the bullish side, 0.903 is the low point within 24 hours, forming a key support. Following closely is the lower band of the Bollinger Bands at 0.901, and holding these two levels is crucial for the bulls.
If the price breaks downward, it may extend to 0.880, which is the Fibonacci 138.2% retracement level. Further support is at 0.850, which is a psychological level.
It is worth noting that if CRV can break through and stabilize above 0.953, it may trigger short covering and change the current market landscape.
Overall, CRV is in a critical price range, and investors should closely monitor the performance of these key price levels to assess potential future trends.