CRVUSD ~ Breakout confirmation on retest of S/R flip
Updated
Well, looks like my post about CRVUSD yesterday breakout upwards came true.
Looking at the chart, we see a pretty massive increase in volume pushing this over the wedge pattern it was in.
Congrats to those of you who took my post yesterday and bought some - we are already up 10-20%.
We now look at retesting the wedge support line which is the pattern previous highs (lower yellow horizontal ray) at about $3.44
I highly suspect that we will retest the previous resistance, flip it to support (S/R flip) and then go back up to our previous ATH.
At that point, we'll retest that resistance and eventually break through it. Given the accumulation we have done, I think we should break through that previous ATH and go into price exploration from there.
Once again, CRV is one of the few (if any?) primary DeFi chains that is still under 11BN market cap.
You can earn yield by providing liquidity to CRV on its own native platform - curve.fi - and also as a liquidity pair.
curve.fi is used by many other yield platforms including pickle, harvest (the main one I use), reef etc (there are hundreds of yield aggregators and they pretty much all use crv).
The tokenomics of crv are also very good. I would give it an A-rating though not an A+ just quite given that circulation is still low compared to maximum supply.
As always DYOR, but this is a solid project and a gem to be able to pick up at this price before it gains wider retail awareness.
Looking at the chart, we see a pretty massive increase in volume pushing this over the wedge pattern it was in.
Congrats to those of you who took my post yesterday and bought some - we are already up 10-20%.
We now look at retesting the wedge support line which is the pattern previous highs (lower yellow horizontal ray) at about $3.44
I highly suspect that we will retest the previous resistance, flip it to support (S/R flip) and then go back up to our previous ATH.
At that point, we'll retest that resistance and eventually break through it. Given the accumulation we have done, I think we should break through that previous ATH and go into price exploration from there.
Once again, CRV is one of the few (if any?) primary DeFi chains that is still under 11BN market cap.
You can earn yield by providing liquidity to CRV on its own native platform - curve.fi - and also as a liquidity pair.
curve.fi is used by many other yield platforms including pickle, harvest (the main one I use), reef etc (there are hundreds of yield aggregators and they pretty much all use crv).
The tokenomics of crv are also very good. I would give it an A-rating though not an A+ just quite given that circulation is still low compared to maximum supply.
As always DYOR, but this is a solid project and a gem to be able to pick up at this price before it gains wider retail awareness.
Trade active
BUYING MORE @ 3.52, 3.46 on the support retestBOUGHT in at 2.84, 3.14
Comment
Really interesting pattern holding here on weekly chart....every week closes within this tightening rising wedge despite breaking out of it in both directions with quite a bit of magnitude.
Given that we have held this wedge for something like 10+ weeks, I really believe we are headed on an upward breakout.
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