CoreWeave Jumps 12.47% In Two Days On Heavy Volume Breakout Above $100

Recent Trading
CoreWeave (CRWV) advanced 6.05% to $102.79 in the most recent session, marking a two-day cumulative gain of 12.47%. This bullish momentum occurred on elevated volume of 45.14 million shares, breaking above the psychological $100 barrier and testing the $105.5 intraday high. The rebound follows a consolidation phase near the $90 support level observed between August 20–26, suggesting renewed buyer conviction.
Candlestick Theory
Recent candlesticks reveal a bullish reversal pattern. The August 28 session formed a robust white candle with a high-low range of $99.9–$105.5, closing near the upper quartile ($102.79). This follows a similar white candle on August 27 ($92.65–$97.5, close $96.93), collectively forming a bullish engulfing structure after three consecutive doji/spinning tops (August 22–26) signaling indecision. Key resistance is now established at $105.5 (August 28 high), while critical support holds at $90, validated by repeated tests between August 20–26. A break above $105.5 could trigger further upside toward $112.
Moving Average Theory
The 50-day moving average (approximated at $128) remains above the 100-day MA (~$118) and 200-day MA (~$98), indicating a persisting long-term bearish trend. However, the current price ($102.79) trades below all three averages, reflecting residual intermediate-term weakness. Notably, the sharp recovery from the $90 support has propelled the price above the short-term 10-day MA ($95), hinting at potential trend reversal. Confluence exists near $112–$118, where the 100-day MA and descending trendline resistance converge, creating a critical hurdle.
MACD & KDJ Indicators
The MACD histogram has shifted from negative to neutral territory, with the signal line nearing a bullish crossover after the two-day surge. This suggests building upward momentum following oversold conditions in mid-August. The KDJ oscillator (particularly %K and %D lines) has sharply rebounded from oversold levels (<20) to above 50, confirming short-term bullish momentum. However, both indicators remain below overbought thresholds (KDJ <70; MACD still negative), leaving room for continued recovery. Divergence is absent, as price gains align with indicator improvements.
Bollinger Bands
Bollinger Bands contracted sharply between August 20–26, signaling reduced volatility and accumulation near $90–$94. The recent breakout above the 20-day moving average (mid-Band, ~$95) and upper Band ($103) indicates renewed volatility expansion and bullish momentum. Price now trades at the upper Band ($103), which aligns with the $105.5 resistance level. Historically, extended periods near the upper Band (e.g., June) preceded pullbacks, making sustained closes above $103 critical for trend continuation.
Volume-Price Relationship
Volume surged 38% during the two-day rally (45.14M and 32.74M shares, respectively), validating the breakout. This contrasts with lower volume during the preceding sideways consolidation (August 20–26, avg. ~20M shares), confirming buyer commitment. Notably, the August 14–15 sell-off recorded extreme volume (55.45M and 52.66M shares), establishing $105–$117 as a high-volume resistance zone. Current volume trends support bullish sustainability but require monitoring for exhaustion above $105.
Relative Strength Index (RSI)
The 14-day RSI has rebounded from oversold extremes (recently near 25) to 58, exiting the oversold zone without reaching overbought (>70) territory. This suggests room for further upside before warning signals emerge. The RSI ascent aligns with price gains, showing no bearish divergence. However, historical resistance near RSI 60 (June–July pullbacks) warrants caution at current levels.
Fibonacci Retracement
Applying Fibonacci levels to the June 20 high ($183.58) and August 22 low ($88.58), key retracement zones emerge: 23.6% ($110.5), 38.2% ($125.3), and 50% ($136.1). The current price ($102.79) remains below the 23.6% retracement, indicating the rally is still within a corrective phase. Confluence exists near $110–$112, where the 23.6% Fib aligns with descending trendline resistance and the August 14 swing low. A decisive breach above $112 would signal trend reversal potential.
Confluence and Divergence Observations
Bullish confluence appears near $90, validated by candlestick supports, the 200-day MA, and volume-based accumulation. Resistance between $105–$112 is similarly reinforced, converging Bollinger upper Band, Fib 23.6%, and historical volume barriers. No significant divergences exist among momentum indicators (RSI, KDJ, MACD), though overbought risks may emerge if the rally extends beyond $110 without consolidation. The $95–$100 zone now serves as short-term support, having transitioned from resistance. While the recovery shows strength, overcoming $112 remains critical to invalidate the broader downtrend.