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 0,6450 and 0,7170 maximum. On the near to mid-term basis 0,37 is acting as robust support to add in dip in the 0,47 area.
Technical Key Elements:
- Auto similar move potential shows target at 0,7170
- 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 0,6450 and 0,7170
Trade Idea conclusion: Buy - Conviction:
Target 2: 0,7170
Target 1: 0,6450
Buy: add in dip area 0,47
Stop: 0,37 (Daily close)
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)