Civic price, similar to many other cryptocurrencies, maintained a very silent trend until the Q4 2020 kicked off the bull run. The bull run escorted the price very close to $1, but before it surpassed these levels, a huge drain slashed the price more than 60%. Since then the asset maintained a consolidation for a while and later the asset initiated with a deep descending trend which happens to have continued till now.
However, the CVC price is attempting very hard to prevent further slippage to the lower levels. And hence is ranging within a very consolidated range after reaching the monthly highs. Bouncing off just before the strong support levels signifies the tendency of the asset to maintain a notable uptrend further.
Will the asset offer yet another buying opportunity before bashing to the upper high or the crucial resistance levels? Or else lower levels below $0.1 are fast approaching? Let’s see!
The CVC price began with the current month trade with a strong bullish note and quickly fell into a deep bearish well. No doubt the asset fell into a deep bearish well but flipped & could manage a notable uptrend further. However, the asset is plunging hard for the past couple of days which compelled the price to hit monthly lows much below $0.25. Fortunately, the Civic token flipped strongly after a minor consolidation.
|Short Term||The CVC price after hitting the lower bottom has flipped and undergoing a notable uptrend.|
|Mid-Term||After a pretty tough fight, the asset flipped the bearish trend and attempted to undergo a decent uptrend to reduce the possibilities of a downtrend|
|Long-Term||The price is maintaining a decent trend range bound and despite a plunge, the asset managed to maintain within the same levels.|
Additional Read: Daily Crypto News, Feb 21, 2022
|Technical Indicators||Value(1Hr / 1D)||Action(1Hr / 1D)|
|Relative Strength Index(RSI)||60.3 / 42.9||Buy / Sell|
|MACD (12 , 26)||0.001 / -0.009||Buy / Sell|
|Average Directional Index(ADX)||20.9 / 35.2||Buy / Sell|
|Average True Index(ATR)||0.0034 / 0.0232||Less volatility/ Less volatility|
The Civic price in both the time horizons is manifesting a diverse trend. In the short-term, it’s somewhat bullish, while in the long-term, it’s extremely bearish. The RSI in the STF is rising above the average levels and HTF is plunging towards the lower bands. The MACD is also showcasing a similar trend as a notable buying pressure is already mounted, while in the long term, the selling pressure is dominating.
On the other hand, the rally strength indicator, ADX, is rising high indicating growing strength in the rally. While in the short term, the rally is weakening as the ADX is declining at a higher pace. On the other hand, the volatility indicator ATR is pretty negative and points towards the asset being less volatile. Therefore any steep change with the price in any of the directions may not be expected.
Next, the pivot levels, the current price is swinging in between the immediate resistance & support levels. And carry both the possibilities of surging beyond these levels or plunging below support levels. However, the rally is gaining a little strength in recent times and hence the CVC price is expected to consolidate for a while, accumulating huge strength and finally pulling a massive leg out to find the upper & immediate target.
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The CVC price since mid-February maintained a decent downtrend and reached the monthly lows below $0.25 quickly. However, after a notable jump, the asset quickly plunged after gaining a reasonable uptrend aiming to surpass $0.3 levels. Currently, the short-term analysis is a little bullish, the present downtrend may be overcome in a very short period.
The Civic price throughout the past week witnessed a significant downtrend and with an interim upswing, the asset has yet again plunged notably. And hence no significant change in the trend or price may be expected in the upcoming hours. Therefore the CVC price may close the daily trade on a significant bearish note. The lower support at $0.24 may be tested and a quick flip may drag the price back above $0.25 levels before the day’s close.
The Civic price at the press time is about $0.2559 with a jump of 1.22%. The trading volume has depleted more than 40% and market capitalization has surged nearly 1.16% but yet to hit the $200 million mark.
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