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CRVUSD

Curve: Massive BreakoutTo stay up-to-date with the latest market developments, be sure to subscribe to Kraken Intelligence at kraken.com With DeFi largely underperforming its peers over the past few months, it comes as no surprise that we're starting to see bullish momentum rotate back into the space over the past few days. This is evident when looking at DeFi's total value locked (TVL), which just jumped from $52.5B on Monday to today's reading of $59.8B. Curve (CRV) is among the various DeFi plays that appear to be regaining bullish momentum... Curve is a software that uses multiple cryptocurrencies to operate an automated market making (AMM) service focused on stablecoins (cryptocurrencies programmed to mimic other assets). One of a number of emerging decentralized finance (DeFi) protocols built on Ethereum, Curve facilitates trading not using a central order book, but rather pools of cryptocurrencies provided by users, who in turn can earn fees through their deposits. Like Uniswap or Balancer, Curve gives cryptocurrency users a way to earn fees on their assets, while letting traders buy and sell those assets at potentially better prices. What sets Curve apart from similar platforms, however, is its focus on markets for stablecoins like Maker and USDT, meant to track the price of U.S. dollars, as well as stablecoins like wBTC and renBTC designed to track the price of Bitcoin. Because of the variety of options on the market, each with its own level of risk, Curve’s goal is to allow stablecoins to be traded with low fees and minimal variation in price. Ok. The technicals. CRV's +25% rally today has pushed the cryptoasset to a new YTD high and through the $3.65 breakout price of a bullish cup & handle pattern formation. Although it's unclear whether CRV will be able to hold above $3.65 and continue trending higher, this breakout could most certainly transpire to a new parabolic uptrend for CRV. To get an implied price target of the cup & handle, first we measure from the lowest point of the cup to the breakout price ($3.65). Then we use that distance to extrapolate from the breakout price. By doing so, we'll find that CRV's implied target is roughly $7, or a +75% gain from CRV's current price of $4. Needless to say, things could most certainly get interesting from here on out...
BINANCE:CRVUSD
by phum126
CRV - welcome to summer levels? vol 2It's less than an hour for the daily candle to close and we can see that it has broken the Fibonacci resistance level 1, about $ 3.50. If in this daily view the apparently bullish movement that we appreciate consolidates, we will consider the new resistance zone between $ 5 and $ 5.50 (mark 1.618 Fib), matching the previous highs back in September of last year. In the event of a downward correction, the levels to be taken into account are reflected here. Thanks again
Long
by harribatu
1
CRV: Massive PotentialCRV truly has massive potential for growth. The section of the chart that I'm showing here is only a small portion of the last couple months. However, there is a MASSIVE cup and handle playing out as the big picture. I could see a potential breakout happening in the next week or two here. A $5 target is not unreasonable once we've moved up. It'll be interesting to see how this plays out... This is not financial advice. These are only my ideas and opinions.
BINANCE:CRVUSD
by LA_Designer
6
CRVUSDTCRV just entered a very strong resistance area but the volume on the market shows that it might have a chance of touching higher targets. In that case we can open long positions and wait for those 2 TP areas (as shown on chart). Wait for the closure of a 4H candle above the resistance and then once its confirmed, open your positions. Be careful about it tho, it's a very strong resistance. ⚠️ NOTE: This usually happens when a coin gets hot on crypto platforms: it might go down by a little and then get back up to a new high. Good Luck 🎲 Tell me your ideas. Like and Share 🗣✅
by ShawnMCR
4
CRV cup and handle breakoutCRV looks to have broken out of the cup and handle pattern I mentioned a few days ago. There still looks to be some resistance around 3.80 USD, but if that breaks, 4.40 USD looks to easily be within reach and beyond. There also looks to be no red flags indicating a fake out from MACD and RSI from what I can tell, so it looks like the largest risk I see is if BTC loses support, as no trend is guaranteed and all bets are off if BTC breaks (would love to hear your thoughts if you see something otherwise, so please leave a comment if you disagree). Otherwise, CRV definitely looks to be an alt to keep an eye on in the next few days.
BINANCE:CRVUSDLong
by crypto_trends
$CRV - HTF Long Setup (1/2D)Evident CRV started at high prices and sold off, found a bottom and is now pushing up those initial higher prices Using the 1D chart we can derive the cap of the market is the SR block of $3.6-$3.1 - mid and late August 2020 One we clear this which lines up with the deviation level on the LTF setup there isn't really any resistances, similar to XRP above $1.1 The flat top triangle is pretty clean - equal highs and higher lows, should be an explosive move upwards once flipped Targets would be 1D SR's of $5.3, $6.9 and and the measure move target of $6.2
Long
by InvestmentsHub
3
$CRV - LTF Long Setup (2H)$CRV fundamentals are solid here, DeFi etc. Chart is strong Micro range, deviation beneath (stop hunt), push above, retest and a good push to the upside We have also formed a smaller bullflag in this micro range, bullish accumulation under the resistance of 3.4-3.5 Strong reclaims of mids, break and retest of flag and deviation level marked will all be solid entries as the 1D chart has us pointing even higher! Targets for this LTF setup are 4 and 4.7 dollars Check my next post for the 1D setup, adds to bullish confluence!
Long
by InvestmentsHub