CURVE still suffering from protocol Hack (Take care)

CRV

MARKET_MINDS

BEARISH

Market & Ticker: CURVE - CRV/USDT 

Date: 03/08/2023 
 
 

Horizon / Timing:  Mid-term / 1 to 3 months 

 

Scenario:  

CURVE (CRV) has been suffering from its protocol hack and significant amount of OTC trade (CEO) - There is a significant amount of CRV which could be exchange creating high volatility creating a wide range price action. We consider the lower part of the range at 0,48/0,37 area as an opportunity to enter in CRV but not before for the time being. 
 
As long as 0,37 tactical support remains valid, buying the dip at 0,48 could offer an opportunity for a quick upside swing towards 0,76 and 0,87, this resistance area must be bypassed to lower the downside risk and reopen a clear bullish trend. 

 

Technical Key Elements: 

- The long-term trend analysis shows potential towards 1,29 
- The RSI indicator is negative and doesn’t show divergence 
- The Moving average are resistance 
- The Fibonacci key support is adjusted at 0,37 

 

Trade Idea conclusion: Trading range - Conviction: 

 

:médaille:
:médaille:
Medium

 

Upper part of the range  0,87 

Lower part of the range : 0,37 

Buy level 0,48 

Sell level 0,76 

 

 

Chart: Daily Basis (Candle Stick) - Logarithmic  

Indicators: Exponential Moving Average (21/34/89) - RSI (21) 

 

 

rayn.finance logo

Automata FRANCE SAS

240 rue Evariste Galois,

06410 Biot,

Sophia Antipolis

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma

Italy

The purchase of digital assets is subject to a high market risk and price volatility. Changes in value can be significant and occur rapidly and without warning. Past performance is not a reliable indicator of future performance. The value of an investment and returns can fluctuate both up and down, and you may not recover the amount you invested. RISK WARNING

Automata ICO Limited has a branch in Italy with its registered office at Via Archimede, 161, Roma, Italy, and registered in Italy under number 96550860587 with the Organismo Agenti e Mediatori (OAM) as a Virtual Asset Service Provider (VASP).

Automata France SAS is a company registered in France with the company number 902 498 617. Automata FRANCE SAS is registered with the french Financial Market Authority, l’Autorité des marchés financiers (“AMF”), as a provider of Virtual Asset Service Provider under number E2023-087.

Automata Pay Europe Limited is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. Your funds will be held in one or more segregated accounts and safeguarded in line with the Financial Supervision Act. How we keep your money safe.