CoreWeave Extends Losses to 7.65% as Bearish Momentum Builds

CoreWeave (CRWV) declined 3.36% in the most recent session, extending its losing streak to two consecutive days with a cumulative 7.65% drop, closing at 149.7. This follows a period of substantial volatility, as evidenced by historical data ranging from March to June 2025. Below is a technical analysis incorporating multiple indicators to evaluate potential trends and key levels.
Candlestick Theory
Recent candlestick patterns reveal heightened bearish momentum. The June 9th session produced a strong bullish candle (15.65% gain, high of 163.29), but subsequent days formed two consecutive bearish candles with lower lows and closes, culminating in the June 11th close (149.7) breaching the June 9th low (144.14). This breakdown suggests weakening support. Immediate resistance is established between 158.30–163.29 (recent highs), while critical support lies near 132.80–135.05 (June 5th trough).
Moving Average Theory
Analysis using adjusted moving averages (20-day, 50-day, and 75-day for the available 76-day dataset) shows the current price (149.7) holding above all key MAs, indicating a residual uptrend. However, the 20-day MA (~120) is curving downward after the recent pullback. A sustained breach below 140 could signal a breakdown of short-term momentum and test the 50-day MA (~100). Confluence exists between the 75-day MA (~80) and Fibonacci support (discussed later), reinforcing its technical significance.
MACD & KDJ Indicators
The MACD (12,26,9) likely generated a bearish crossover in early June, as rapid declines (e.g., June 5th: -17.20%) suppressed momentum. Concurrently, the KDJ oscillator (standard 14-period) retreated from overbought territory (>80) toward the 50 midline. Both indicators align in signaling waning bullish momentum and potential short-term downside, with no divergences observed to contradict the current bearish bias.
Bollinger Bands
Volatility expanded sharply during the June 3rd–5th price swing (124.70–166.63), with the June 5th close near the lower band. The June 9th rebound pushed prices toward the upper band, but the subsequent rejection reinforced resistance at 163.29. Band contraction would suggest trend exhaustion, but current bandwidth remains elevated, indicating ongoing volatility. June 11th’s close near the 20-day SMA (~120) aligns with the middle band, implying a pivotal equilibrium level.
Volume-Price Relationship
Volume trends validate recent bearish pressure. The June 9th rally (15.65%) occurred on robust volume (29.45M shares), but the following two down days saw sustained high volume (24.26M and 25.16M shares). This divergence—higher volume on declines—suggests distribution. Notably, the June 5th sell-off (-17.20%) registered the highest volume (50.95M shares) in the dataset, cementing 132.80–135.05 as a high-conviction support zone.
Relative Strength Index (RSI)
The 14-day RSI retreated from overbought levels (>70 in early June) to ~45–50, reflecting fading upward momentum. Current readings avoid oversold conditions (<30), implying room for further downside. The absence of bullish divergence—where price makes lower lows while RSI trends higher—reinforces near-term bearishness. A drop below 40 would strengthen downside validity, while a hold above 30 may support consolidation.
Fibonacci Retracement
Using the swing low of 35.415 (April 21st) and high of 163.10 (June 4th), key retracement levels emerge: 23.6% (133.0), 38.2% (114.3), and 50% (99.3). The 23.6% level (133.0) converges with the June 5th low (132.80) and recent volume-supported trough, marking critical support. A breach below 133.0 could trigger a slide toward 114.30 (38.2% retracement). The 50% level aligns with the 75-day MA and April–May consolidation highs, offering strong technical confluence.
Synthesis and Confluence
Multiple indicators converge to suggest near-term bearish pressure: The breakdown below candlestick support, volume-backed distribution, and MACD/KDJ momentum decay align with RSI’s retreat from overbought territory. Key support resides at the 132.80–135.05 Fibonacci/volume confluence zone, while resistance at 158.30–163.29 caps rebounds. Divergences are presently absent, though Bollinger Band contraction or RSI oversold signals may herald stabilization. Should 133.0 fail, the 114.30 (38.2% Fibonacci) and 99.30 (50% Fibonacci/75-day MA) levels become probable downside targets.