CoreWeave Jumps 7.13% To $100.22 As Bullish Technicals Signal Potential Breakout

CoreWeave (CRWV) exhibits notable price action with a recent 7.13% gain to $100.22, marking its third consecutive positive session and a cumulative 14.56% advance. The following technical analysis evaluates key indicators and their confluence.
Candlestick Theory
Recent sessions formed a "Three White Soldiers" pattern (Sep 5-9) after piercing the $88.64 support level, signaling strong bullish reversal conviction. The Sep 9 session shows a long upper wick ($103.89 high vs. $100.22 close), indicating resistance near $104. Historical candlesticks reveal significant rejection near $100-$104 (Aug 28-29, Sep 2), establishing this as a critical resistance zone. Key support resides at $89.09 (Sep 5 low) and $85.21 (Sep 4 low).
Moving Average Theory
The 50-day MA (approximated ~$118) maintains a steep downward slope above price, reinforcing the intermediate downtrend. However, the recent rebound has pushed price above the 20-day EMA (~$95), suggesting potential short-term trend reversal. The 200-day MA (~$105) looms as major overhead resistance, aligning with the $104-$105 historical rejection zone. A sustained break above the 50-day MA is needed to confirm trend reversal.
MACD & KDJ Indicators
MACD histogram shows bullish momentum acceleration emerging from negative territory since Sep 5, supported by its signal line crossing upward. KDJ presents a bullish crossover with K-line (67) and D-line (55) rising from oversold conditions. This dual momentum alignment suggests strengthening upside potential, though KDJ approaches overbought territory (J-line at 82), warranting caution near resistance levels.
Bollinger Bands
The bands contracted sharply during the August sell-off, indicating volatility compression. The Sep 5-9 rally pushed price from the lower band toward the midline (~$99), reflecting bullish momentum recovery. Band width remains elevated from August's volatility spike, suggesting room for directional continuation. A sustained close above the midline would target the upper band (~$110).
Volume-Price Relationship
The recent 3-day advance accompanied rising volume (Sep 5: 18.4M shares, Sep 8: 24.7M shares, Sep 9: 38.8M shares), validating bullish conviction. The Aug 28 decline saw massive distribution (45.3M shares), cementing $105-$106 as resistance. Supportive volume during upthrusts versus thin-volume pullbacks (Aug 25-26) aligns with accumulation patterns.
Relative Strength Index (RSI)
Daily RSI (14-period) currently reads 65.82, emerging from oversold conditions (<30 on Sep 4) and approaching overbought territory. While not yet exceeding 70, the rapid ascent warrants monitoring for potential negative divergence near resistance. The RSI recovery from oversold aligns with MACD/KDJ momentum signals but highlights elevated near-term risk if overbought thresholds breach.
Fibonacci Retracement
Applying Fib levels to the June 20 high ($183.58) and September 4 low ($85.21):
- 23.6%: $108.22
- 38.2%: $123.30
- 50.0%: $134.40
Current price faces immediate resistance at the 23.6% retracement ($108.22), with stronger confluence near the psychological $110 and 38.2% level. The 61.8% retracement ($145.58) aligns with the late-July consolidation zone.
Confluence & Divergence
Confluence: The $104-$110 resistance zone gathers significance from:
- 200-day MA (~$105)
- 23.6% Fib ($108.22)
- Prior swing highs (Aug 28-29)
- Volume-based resistance at $105
Divergence: Price made a lower low in early September versus August's trough, while RSI and MACD printed higher lows – a bullish momentum divergence preceding the current rebound.
In summary, CoreWeave shows technically constructive recovery signals with momentum, volume, and candlestick alignment, though faces formidable resistance between $104-$110 where multiple technical barriers converge. Traders should monitor volume sustainability near these levels, with breach above $110 potentially triggering short-covering toward $123. Conversely, failure to hold $95 support may reinstate the bearish trend.