CoreWeave Gains 5% As Technicals Signal Bullish Rebound From Key Support

CoreWeave (CRWV) rose 5.01% to close at 93.55, marking two consecutive days of gains and a 6.94% advance during this period, indicating renewed bullish momentum after recent volatility.
Candlestick Theory
The recent two-day rally forms a bullish continuation pattern, with the September 8th candle closing near its high (93.55 vs. high: 96.17), suggesting conviction. Key resistance emerges at 96.17 (September 8th high), while support is established at 88.64 (September 8th low), aligning with the August 22nd swing low. The August 14th bearish engulfing candle (high: 116.88, close: 99.51) and subsequent downswing highlight 117–116 as a major resistance zone.
Moving Average Theory
The 50-day SMA (approx. 113) and 100-day SMA (approx. 107) hover above the current price (93.55), signaling persistent intermediate-term bearish pressure. However, the 200-day SMA (approx. 87) underpins the recent rebound, suggesting long-term structural support. Conclusively, the price trading below the 50/100-day SMAs indicates a downtrend, but the 200-day SMA’s defense implies potential basing near the 87–88 zone.
MACD & KDJ Indicators
MACD (12,26,9) shows the histogram recovering from deeply negative territory, with the signal line attempting to cross above, hinting at nascent bullish momentum. KDJ (9,3,3) registers K (76) and D (69) crossing upward near overbought territory, supporting short-term upside bias. However, both oscillators remain below their August peaks, reflecting unresolved bearish momentum from the 148 → 89 correction. A decisive MACD zero-line crossover and KDJ sustain above 80 would strengthen reversal prospects.
Bollinger Bands
September’s volatility contraction narrowed the bands (20-day SMA: 94, upper: 100, lower: 88), culminating in a squeeze breakout toward the upper band on September 8th. Price now challenges the middle band (94) as resistance-turned-support. Successful close above 94 would open a path to 100. Conversely, failure here may retest the lower band (88), where August 22nd and September 8th lows converge.
Volume-Price Relationship
The rally on September 8th saw volume surge 29% above the prior session, validating bullish conviction. Notably, significant down days (e.g., August 14: -15.5% on 45.3M shares) exceeded average volume (30–35M), confirming distribution. Recent gains lack comparable volume to the August sell-off, warranting caution. Sustained advances require volume expansion above 35M shares to confirm institutional accumulation.
Relative Strength Index (RSI)
Daily RSI(14) rebounded from oversold (31.5 on September 2) to 57, reflecting improving momentum but avoiding overbought risks. This neutral positioning suggests room for further upside before the 70 threshold signals overheating. RSI divergence emerged in August: prices made lower lows during the sell-off, but RSI held above June lows, foreshadowing the recent stabilization.
Fibonacci Retracement
Applying the 148.75 (August 12th peak) to 88.64 (September 8th low) leg, key retracement levels are 110.50 (38.2%), 118.70 (50%), and 126.80 (61.8%). The current rally faces immediate resistance at 96.17 (Sept 8 high), followed by 103.04 (August 29th close), aligning with the 23.6% retracement. Confluence exists at 110.50, where the 100-day SMA and 38.2% Fib converge. Notably, the 200-day SMA (87) sits below the 88.64 swing low, reinforcing a critical support band.
Confluence and Divergence
Strong confluence exists at 87–88, where the 200-day SMA, Bollinger lower band, and recent swing low align, offering a pivotal support floor. Upside targets at 96–103 converge with candlestick resistance, the 23.6% Fib, and Bollinger mid-band. Divergence appears between KDJ’s overbought warning and RSI’s neutral stance; resolution above 94 would align oscillators. Volume divergence versus August’s sell-off pressures sustainability, though recent accumulation hints at accumulation at lower levels. The weight of evidence suggests basing behavior near 88–94, with upside bias above 96, contingent on volume confirmation.