CLV Surges +65% in a Single Day Amid Partnership with Realy Metaverse

By Malik Junaid December 13, 2021 In Crypto News, Market Analysis, Trading

CLV is trading in an uptrend, like many other Altcoins. The cryptocurrency CLV gained over +65% in a single day by breaking a falling wedge pattern with strong buying volume on multiple exchanges and surged over +85% in a week.

What is Clover Finance?

Clover CLV is a Polkadot parachain, committed to providing easy-to-use blockchain infrastructure and creating a one-stop EVM-compatible framework for substrate-based applications. The CLV token is used to pay for Clover transactions and to vote for network upgrades. Clover also aims to enable interoperability between Bitcoin and other blockchains.

CLV Price Analysis

At the time of writing, CLV is ranked the 290th cryptocurrency globally and the current price is US$1.03. Let’s take a look at the chart below for price analysis:

Source: TradingView

After looking at the above 4-Hour candle chart, we can clearly see that CLV was trading inside the falling wedge pattern on the CLV/USDT pair. The first resistance was on the $0.87 price level, which CLV broke with a strong bullish trend buying volume and is now heading towards the recent high price at $1.35. Seeing that many Altcoins are holding a strong position this week after the recent bitcoin price crash, CLV may continue to increase in the uptrend if traders keep buying with high volume.

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“The falling wedge pattern is characterised by a chart pattern which forms when the market makes lower lows and lower highs with a contracting range. When this pattern is found in a downward trend, it is considered a reversal pattern, as the contraction of the range indicates the downtrend is losing steam.”

What Do the Technical Indicators Say?

The CLV TradingView indicators (on the 1-day) mainly indicate CLV as a Buy, except the Oscillators which indicate CLV as a Neutral.

So Why Did CLV Break Out?

General market sentiment seems to suggest cryptos are hopefully turning back bull run season after recent price corrections. Another reason for this sudden pump in price could be whales secretly buying CLV for the coming Altcoins rally. Recent news was also announced regarding Clover’s partnership with Realy Metaverse.

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Where to Buy or Trade CLV?

CLV has the highest liquidity on Binance Exchange, so that would help for trading CLV/BTC or CLV/USDT pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.

Malik Junaid
Author

Malik Junaid

Malik is a skilled writer with a background in Software Engineering. His interests are blockchain, cryptocurrency trading and market analysis.

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