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CRV's recent decline has a clear rhythm—after reaching a high of 0.423, it couldn't hold, and now it has dropped to 0.403. Looking at the hourly chart, multiple moving averages have all been broken: MA5 (0.406), MA10 (0.408), MA20 (0.407) are all under pressure, indicating a complete loss of support.
The RSI(6) has fallen to 37.778, a typical weak zone. More importantly, the MACD is starting to show green bars, with DIF and DEA both stuck at -0.001, indicating no desire from the bulls to buy in. The signs of main force distribution are very obvious, with significant selling pressure.
The current price of 0.403 can directly open a short position, with a stop-loss placed above the previous high at 0.423 for safety. The target levels are as follows: the first target is 0.399 (the lowest point in the last 24 hours), and the second depends on whether the price can hold above the round number 0.3900.
If you're trading trend-following positions, just hold firmly. For short-term traders, it’s wiser to take profits in stages at support levels. Be especially cautious of main force exploiting breakdown patterns to continue selling, which could easily break through key support levels all at once.