CRVUSD Bullish break-out on the short-termCurve DAO Token (CRVUSD) broke above the 1D MA50 (blue trend-line) for the first time since July 30, with the 1D MACD breaking above the 0.00 neutral mark. The long-term pattern is a Channel Down since the February 21 High, which hit the November 22 2022 market bottom on its last Lower Low (September 13 2023).
Every 1D candle closing above the 1D MA50 following a Lower Low has seen a bullish extension towards the top of the Channel Down. Last time (July 14) it broken marginally above the 1D MA100 (green trend-line) and almost touched the 1D MA200 (orange trend-line). We are bullish, targeting 0.6000 (1D MA100) unless the MACD makes a Bearish Cross first.
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Crvusdsignals
CRVUSD Broke its 1D MA200 but it's not a long-term break-out yetThe Curve Dao token (CVRUSD) broke on Monday above its 1D MA200 (orange trend-line) for the first time since February 10 2022, making a significant move towards the new Bull Cycle. Last week, the 1W RSI broke and closed above its own Lower Highs trend-line as well. However none of these break-outs can make investors feel safe yet.
The reason is that on the long-term, CRV has been trading within a Falling Wedge pattern that started forming back on the May 23 2021 Low! As a result, we are turning completely bullish on CRV for the long-term only when it breaks above the Lower Highs trend-line (that started after the February 08 High).
The target on a 3-month horizon is 1.6000 (just below the 0.5 Fibonacci level) and on a 12-month 3.7000 (just below the 0.786 Fibonacci level).
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CRVUSD completed the Inverted Head and Shoulders. Buy.Curve Dao Token (CRVUSD) is on a three day bullish streak, attempting to make contact again with the 1D MA50 (blue trend-line). Even though the short-term outlook in the past week has been bearish, we have a series of strong reasons to expect a bullish break-out in the coming days.
First and foremost, the price with the current rise seems to have completed an Inverted Head and Shoulders pattern (IH&S). The current Resistance is around 1.6120 and a break above should be considered as a bullish break-out signal targeting the 2.0 Fibonacci extension at 4.8190 on the long-term. As the chart shows, it is highly likely that this Resistance test will take place at the same time as a 1D MA200 (orange trend-line) test, which is intact since February 10 2022.
Secondly, the 1D MA50 has made a Bullish Cross with the 1D MA100 (green trend-line) for the first time since September 04 2021. At the time, that was an early buy signal into the big rally in the second half of 2021. At the same time, the MACD on the 1W time-frame has been on a Bullish Cross as well, for the first time since August 31 2021.
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Probable (in my opinion) Demand/Support level for CURVE????I have seen CRV test this area between $1.86 and $2.20 5 times fairly recently as you can see from my drawings on this daily chart. Looking for feedback from the trading community on what you guys think of my analysis, and whether I am on the right track with a lot of the analysis that I publish, most I don't, and I probably should because there are no losses unless you do not learn from them. Especially with something as diverse information wise as trading, investing, etc. Look forward to what everyone thinks of Curve and the De-Fi sector in general....happy trading guys and I hope EVERYONE OUT THERE IS MAKING MONEY. Lets break the system because you know none of them were built for that much success. The only ay to do that is to help each other get better at the finer points of technical and fundamental analysis. Take it easy everyone, this toooooo shall passs......I also think Curve and the De-Fi sector in general will get a bump coming into the end of the year, need money , holiday season, by the way....let me know ladies and gents, and be safe out there...
One more thing, lets see if we see some buyer exhaustion in the current candle with a "top" and reversal, if that happens, I could really be onto something....
CRVUSD within a Channel Up aiming at $12.00Curve has been trading within a Channel Up since late July, all within the wider uptrend of a Fibonacci Channel. The token is still outperforming the market average during this correction and is about to complete an Inverse Head and Shoulders (IH&S) formation within the Channel Up. Interestingly enough, the most recent IH&S pattern was back during the May market sell-off, and was what practically paved the way for the sustainable Channel Up.
Based on the 1D CCI indicator, a break above its Lower Highs, signals the start of a new bullish pattern. Currently the price is about to test those Lower Highs. If broken, our target will be $12.00.
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