CoreWeave Tumbles 3.17% as Death Cross and Oversold RSI Signal Prolonged Downtrend $3.38B Turnover Ranks 15th in Market

On August 18, 2025, CoreWeave (CRWV) closed at $96.8, reflecting a 3.17% decline with a trading volume of 33.44 million shares, contributing to a $3.38 billion turnover that ranked 15th in the market. The stock continued its downward trajectory from its June peak of $183.58, marked by bearish technical indicators such as a death cross and oversold RSI levels. Key support at $94.7 faced pressure, with resistance solidified at the 110-112 range. Candlestick patterns, including a bearish engulfing formation on August 13-14, underscored persistent selling pressure. The stock's price remained below the 23.6% Fibonacci retracement level at $105.50, with confluence at $92-94 from Bollinger bands and psychological support reinforcing the downside bias.

Volume distribution highlighted bearish momentum, with elevated trading activity accompanying recent breakdowns. The 14-day RSI approached oversold territory at 30.2, though historical context suggested limited reversal potential without confirmatory signals. MACD and KDJ indicators remained in negative territory, with no bullish crossovers observed. Bollinger bands narrowed to 18% width, indicating reduced volatility but maintaining bearish alignment as prices remained pinned near the lower band. Structural indicators, including the death cross of moving averages, reinforced a prolonged downtrend. Short-term consolidation probabilities increased due to multi-indicator confluence at key support levels, though immediate upside attempts lacked volume validation.

The strategy of buying the top 500 stocks by daily trading volume and holding them for one day from 2022 to present yielded a 1-day return of 0.98% and a total return of 31.52% over 365 days. This suggests the approach captured limited short-term momentum amid market volatility, highlighting risks associated with timing and exposure to high-volume stocks.