Market & Ticker: CURVE - CRV/USDT
Date: 03/08/2023
Horizon / Timing: Mid-term / 1 to 3 months
Scenario:
CURVE (CRV) has been suffering from its protocol hack and significant amount of OTC trade (CEO) - There is a significant amount of CRV which could be exchange creating high volatility creating a wide range price action. We consider the lower part of the range at 0,48/0,37 area as an opportunity to enter in CRV but not before for the time being.
As long as 0,37 tactical support remains valid, buying the dip at 0,48 could offer an opportunity for a quick upside swing towards 0,76 and 0,87, this resistance area must be bypassed to lower the downside risk and reopen a clear bullish trend.
Technical Key Elements:
- The long-term trend analysis shows potential towards 1,29
- The RSI indicator is negative and doesn’t show divergence
- The Moving average are resistance
- The Fibonacci key support is adjusted at 0,37
Trade Idea conclusion: Trading range - Conviction:
 | | Medium |
Upper part of the range 0,87
Lower part of the range : 0,37
Buy level 0,48
Sell level 0,76
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
