🌟🔍 CRV's Potential Breakout 📈🔐
🔻 CRV in a Falling Wedge: CRV (Curve DAO Token) seems to be in a falling wedge on the weekly timeframe, but the pattern isn't entirely certain due to the shortness of the preceding wave.
🔺 Expanding Triangle in Shorter Timeframes: In the 4-hour and daily timeframes, CRV is moving in an upward expanding triangle (I will update the analysis with this pattern soon).
📈 162% Move Possibility: A 162% upward movement for CRV can be envisioned after breaking the trend line and the resistance at $0.6456.
🚦 Strategy Recommendation: The best approach seems to be waiting for the breakout of the trend and the $0.6456 trigger.
🔍 Volume and Candle Analysis: Currently, the volume doesn't confirm the movement trend, and the candles don't strongly indicate buyer presence.
🔔 Set Alerts: Definitely set alerts if you're interested in buying CRV.
🛑 Stop Loss Consideration: Though it seems large, the best stop loss might be below $0.4185, which is close to a 40% risk.
📈 Futures Trading: For futures, consider taking a long position after $0.6456 with a stop loss set in the 4-hour timeframe.
📉 In Case of Market Downturn: If the market drops, the yellow box will represent the new accumulation zone.
🔝 Confirming New Primary Uptrend: To confirm the start of a new primary uptrend, we need to wait for CRV to reach $1.4554.
🔑 Related Categories:
Pattern Analysis
Resistance and Support
Volume Analysis
Do you see a breakout in CRV's future? Share your thoughts and strategies! 💬🌐 #CRVToken #CryptoAnalysis #TradeCityPro
📚 Remember: Investing in cryptocurrencies involves high risk. Always do your own research and consider your risk tolerance before investing! 🧠💼
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.