🌟🔍 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! 🧠💼
