Civic (CVC) Price Prediction: Can Bulls Continue To Show Dominance Ahead?

In the last 48 hours, the Civic (CVC) price has surged massively. A solid demand and investor speculation fueled this surge.

The Civic (CVC) price showcased a magnificent surge in the last 48 hours. This surge was fueled by a strong demand and investor speculation.

With a strong volume weekly surge of over 157% intraday, the CVC token surged higher and was heading toward the 52-week high zone. A golden crossover was observed, and the token gained immense bullish momentum.

Notably, the CVC price has defied a three-month downtrend and posted a solid monthly bullish marubozu candlestick. This conveyed the shift in market odds.

Civic was trading at around $0.2314 at press time, up by over 25% over the last 24 hours. The price action placed CVC at a critical juncture as the token entered the supply territory and challenged the bear army.

After rebounding from the EMAs cluster around $0.1000, short-term support, the CVC price saw an upward climb. The token rallied more than 80% since the beginning of this month.

Given that, the CVC bulls would ideally want to sustain the price above $0.2200 to keep the uptrend alive. Interestingly, the CVC token surpassed the 78.6% Fib zone and looks overbought. This indicated a retracement may be seen in the next few hours.

Meanwhile, the bear cartel looked trapped, and further short-covering moves can be seen in the following sessions. A daily close above the $0.2700 mark would fuel further strength in the CVC price.

Crypto Analyst @WorldofCharts mentioned in his post that CVC crypto was testing a crucial trendline hurdle. The hurdle was the multi-month symmetrical triangle pattern. Successful breakthroughs would result in a massive upside ahead.

The RSI line spiked to 70, indicating a sharp buying momentum. Furthermore, a positive divergence was noted. This conveyed a bullish conviction and further possibility of an uptrend.

The Chaikin Money Flow (CMF) reading was noted around 0.20. It indicated the liquidity entry into the market.

Moreover, the weighted sentiment curve surged toward the positive region, around 1.18. This replicated the positive sentiment among the investors.

In addition to the price surge, a sustained volume surge generally brings more liquidity, allowing for a smoother price surge. Consequently, this volume surge may propel further surges in CVC price and could reach the $0.300 mark next.

The ongoing price action hints that buyers have maintained their upper hand. It could further boost the altcoin rally ahead.

The Futures Open Interest (OI) surged over 91% to $28.19 Million. It indicated an increased speculative move and sharp long additions over the past 24 hours.

The long/short ratio showed a bullish bias at 1.0513 across exchanges. This showed the demand for the long positions.

The immediate support zones were $0.2200 and $0.2000. On the other hand, the upside barriers were $0.2700 and $0.2900.