Civic Doesn’t Feel Like Going North

Civic coin still doesn’t feel like going up and continues to produce lower lows and lower highs. This does indicate┬áthe presence of a downtrend which has a tendency to continue.

The resistance at $0.37 has been rejected multiple times as well as the downtrend trendline. CVC/USD trading below the 200 Moving Average and within the descending channel.

The downside target could be 161.8% Fibonacci retracement level at $0.184, that would be right at the bottom of the descending channel. Unless Civic manages to break above $0.4, the bearish market is likely to continue.

SHARE

LEAVE A REPLY

Please enter your comment!
Please enter your name here