Market & Ticker: CURVE – CRV/USDT
Horizon / Timing: Tactical Mid-term / 1 to 3 months
CRV were affected by an exploit related to a vulnerability in the Vyper programming language, the second most popular Ethereum Virtual Machine (EVM) language behind Solidity earlier in July. The CRV price action is now showing an extreme oversold area reached which offers a potential recovery in the next days/weeks.
At the current price the potential of CRV Token stands at 0,60 and 0,70 maximum. On the near to mid-term basis 0,37 is acting as robust support to add in dip in the 0,44 area.
Technical Key Elements:
- Auto similar move potential shows target at 0,70
- RSI indicator is at support in oversold area
- The Moving average are still resistance
- Fibonacci key support is adjusted at 0,37 while the Elliot wave shows upside potential towards 0,60 and 0,70
Trade Idea conclusion: Buy - Conviction:
Target 2: 0,70
Target 1: 0,60
Buy: add in dip area 0,44
Stop: 0,37 (Daily close)
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
THE VIEWS AND OPINIONS EXPRESSED BY THE AUTHOR ARE FOR INFORMATIONAL PURPOSES ONLY AND DO NOT CONSTITUTE FINANCIAL, INVESTMENT, OR OTHER ADVICE.