Like many other altcoins Clover Finance (CLV) It is also trading in an uptrend. Cryptocurrency CLV with strong buy volume on multiple exchanges falling wedge It rose over 65 percent in a single day and more than 85 percent in just a week after breaking its (falling wedge) pattern and forming a partnership.
What is Clover Finance (CLV)?
Clover (CLV)is a Polkadot parachain committed to providing easy-to-use blockchain infrastructure and creating a one-stop EVM-compatible framework for substratum-based applications. The CLV token is used to pay for Clover transactions and vote on network upgrades. Clover also aims to enable interoperability between Bitcoin and other blockchains.
So Why Did CLV Jump?
After the recent price corrections, the overall market sentiment seems to indicate that cryptos are on the verge of resuming their bull run season. Another reason for the sudden price spike could be that whales are secretly buying CLV in preparation for the upcoming Altcoin rally. The recent news of Clover Finance’s partnership with Realy Metaverse is thought to be the main source of CRV’s latest rise.
Realy Metaverse is a 3D virtual world that allows users to interact, discover, buy and sell a wide variety of NFT-based music, games, fashion and collectibles.
🔥Clover are pleased to announce our partnership with @RealyOfficial
like @Meta said, REALY is changing the fashion game in the metaverse — and we look forward to bringing the incredible REALY Metaverse first to Clover users!
LFG 🚀#fading #REALY #metaverse #CloverFinance pic.twitter.com/qVn6UOMsDr
— Clover Finance (@clover_finance) December 12, 2021
CLV Price Analysis
At the time of writing, CLV, which has lost some of its gains, is trading at $1.01. It is the 290th cryptocurrency and the current price is $1.03. Let’s take a look at the table below for price analysis:
Looking at the chart above, we can clearly see that the CLV is trading inside the descending wedge pattern on the CLV/USDT pair. The altcoin’s initial level of resistance was at $0.87 and the CLV was broken by a strong bullish buying volume, with the CRV currently heading towards its recent all-time high of $1.35. Considering that many altcoins have remained strong this week after the recent bitcoin price drop, CLV could continue to rise in the uptrend if traders continue to buy in large volumes.
“A chart pattern that occurs when the market makes lower lows and lower highs with a narrowing range, falling wedge It is known as the descending wedge formation. When this pattern is discovered in a downtrend, it is considered a reversal pattern as the narrowing of the range indicates that the downtrend is losing strength.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.