CRVUSD.P trade ideas
Easy Long Set UpIf I was trading this coin I would buy spot and hold the asset as long as price stays above the purple / dotted purple lines. The white lines are potential take profit areas.
CRV - I don't even know why this would have valueanyway, seems like the chart bottomed out. longed 50x. If BTC allows it
Curve Finance Price Prediction: CRV DeFi Dominance Surges
Curve Finance total value of funds locked rise by more than 33% in the last 24 hours to $1
26 billion.
CRV/USD awaits a technical breakdown to $1.0, especially if the triangle support caves in.
Curve Finance (CRV) is currently the third-largest decentralized finance (DeFi) token in the cryptocurrency industry by the amount of funds locked in the network. Interestingly, the last 24 hours were particularly yielding for CRV as it added over 33% to the total value of locked funds. At the moment, investors have locked $1.26 billion in the project. CRV trails Aave, which currently has $1.32 billion in locked funds. UniSwap has continued to hit new highs with the value locked rising to $1.94 billion, hence holding tightly in the first spot.
Despite the attention Curve Finance is getting in terms of uptake in the decentralized ecosystem, the token's value has continued to dwindle. CRV commenced trading on Binance mid-August. Following the support on the largest cryptocurrency exchange in the world, the token rallied to $25. Unfortunately, the spike to all-time highs was short-lived, with CRV embarking on a gains-trimming exercise.
The downtrend has been unstoppable as various support levels have been rendered unhelpful. CRV tested levels below $2.0 while the upside is limited under a descending trendline. At the time of writing, CRV is doddering at $1.34 amid a bearish building trend.
The 21 Simple Moving Average caps the token’s immediate upside. Curve Finance is also trading within a descending triangle, commonly interpreted as a continuation pattern in technical analysis. They signal that an asset is bound to continue with the previous trend (in this case, downtrend) on breaking a certain level (triangle support). Therefore, if CRV extends the leg below the triangle support, there is a chance the price will test the $1.0 level before recovery comes into the picture.
All technical indicators illustrate a growing bearish momentum, including the Relative Strength Index. The 21 SMA is also under the 50 SMA, somehow suggesting bears will remain in control a while longer.
Curve Finance Intraday Levels
Spot rate: $1.34
Relative change: -0.017
Percentage change: -1.4%
Trend: Bearish
Volatility: Expanding
CRV starting to form a bottom$CRV has had a particularly brutal life up to this point. Buyers have lost quite a bit betting on this coin. Altcoins are a gamble and being wrong about your entry is particularly unforgiving compared to more generic assets. However, if you pay attention to the patterns, ignore the FOMO and look for trends, the picture becomes more clear. In this case, we seem to have just formed the left shoulder of an inverted head and shoulders pattern, inside a larger head and shoulders pattern. Assuming Bitcoin doesn't blow up this pattern, look for a rounding formation at the bottom of this falling wedge around $1.05-$1.07, with potential for a wick down to sub $1.00 (this would be a psychological target and would make a ton of sense). Assuming this plays out, this looks like it should play out with the bottom hitting around 9/19 or 9/20, with a confirmation of the uptrend around a day or two later.
If you want to gamble - Set your bids at a $1.00
If you want confirmation for entry - Wait for the break out of the falling wedge and wait for a retest (The right shoulder of the inverted head and shoulders pattern would be the retest
Not financial advice, just a cheat sheet for people wanting to fill their moon bag. Happy trading.
Curve CRV Bullish Harami on all time LOW infinite risk rewardCurve CRV Bullish Harami on all time LOW infinite risk reward
