CRV target reached at 0,6490 – Further recovery expected
Market & Ticker: CURVE – CRV/USDT
Date: 19/11/2023
Horizon / Timing: Tactical Mid-term / 1 to 3 months
Scenario:
CRV after having been 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, CRV succeed to reversed to the upside reaching our expected target at 0,6460.
At the current price the upside potential of CRV Token remains strong. As long as 0,50 remains a support valid in daily close we expect a further upside move towards 0,84 before &,20 confirming the bullish exit from a multi months consolidation
Technical Key Elements:
- Auto similar move potential shows target at 1,20
- RSI indicator is positive without divergence
- The Moving average are support (double cross signal)
- Fibonacci key support is adjusted at 0,50 while the Elliot wave shows upside potential towards 0,84 and 1,20
Trade Idea conclusion: Buy - Conviction:
 | | | High |
Target 2: 1,20
Target 1: 0,84
Buy: add in dip area before bullish exit
Stop: 0,50 (Daily close)
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
