CoreWeave Jumps 25% To Extend Rally To 42% In 3 Sessions

CoreWeave (CRWV) surged 25.19% on June 3, 2025, extending its winning streak to three consecutive sessions with a cumulative gain of 42.57%, closing at $150.48 on elevated volume of 52.98 million shares. This follows a volatile 1-year history characterized by explosive rallies and sharp pullbacks, providing a rich dataset for technical assessment.
Candlestick Theory
The most recent three sessions form a robust "Three White Soldiers" pattern, signaling strong bullish momentum after the May 29 hammer candle at $105.55. Key resistance resides near the May 27 swing high ($125.02), now breached, with secondary resistance at the $150 psychological level. Support emerges at $120.20 (June 2 low) and the critical $105.50 zone, which previously reversed declines twice in late May. The June 3 marubozu candle (minimal wicks) confirms conviction behind the breakout.
Moving Average Theory
The 20-day EMA ($111.50) decisively crossed above the 40-day EMA ($99.80) on June 2, confirming a short-term bullish reversal. Price is trading well above both, while the ascending slope of the 40-day EMA reinforces a nascent intermediate uptrend. However, the absence of 200-day data limits long-term context. The $150.48 close now positions price 35% above the 20-day EMA, suggesting potential near-term consolidation risk.
MACD & KDJ Indicators
MACD (12,26,9) exhibits a bullish crossover on June 2, with histogram bars expanding positively – signaling accelerating momentum. KDJ shows the %K line (87) and %D line (82) in overbought territory after exiting the oversold zone on May 20. While MACD confirms the uptrend, KDJ's extreme levels warn of stretched momentum. Divergence appears absent as both oscillators align with new price highs.
Bollinger Bands
The June 3 close ($150.48) pierced the upper Bollinger Band ($135.70, 20-day basis), historically a signal for stretched conditions. Bandwidth expanded 42% during the 3-day surge, reflecting volatility eruption. Historically, such expansions preceded pullbacks (e.g., April 9 and May 22). Price may retreat toward the middle band ($117.00), which coincides with the 20-day EMA support.
Volume-Price Relationship
The rally is validated by strong volume accumulation: June 3 volume (52.98M shares) doubled the 30-day average. Notably, all three up-days saw volume exceed their 30-day mean, contrasting with thin volume during May declines. The Volume-Weighted Average Price (VWAP) anchors at $117.50, now acting as dynamic support. Such volume conviction suggests institutional participation in the breakout.
Relative Strength Index (RSI)
The 14-day RSI reading of 85 on June 3 flags extreme overbought conditions, well above the 70 warning threshold. While such readings can persist in powerful trends, historical parallels (April 3: RSI 81 preceding a 33% drop) counsel caution. A bearish divergence would emerge if price makes new highs while RSI retreats – not yet observed.
Fibonacci Retracement
Using the March 28 trough ($40.00) and April 2 peak ($61.36):
- The 61.8% retracement ($54.60) supported prices on April 11
- Current extension beyond 161.8% ($148.50) confirms bullish momentum
From the May 29 low ($105.55) to June 3 high ($150.88):
- The 61.8% projection of this swing targets $165.00
- Pullback support zones: $130.20 (38.2%) and $120.40 (50%)
Confluence & Cautionary Notes
Multiple indicators align at $120-$123: the 20-day EMA, VWAP, and 50% Fibonacci retracement converge, making this a high-probability support zone. However, RSI and Bollinger Band extremes indicate non-sustainable momentum. Bearish reversal triggers include a close below $130.20 (invalidating the Fibonacci extension) or RSI divergence. The primary risk remains profit-taking after a vertical ascent.