### Trading Signals for $CRV (Curve DAO Token)
**Entry Range:** $0.6458 (Current Price)
**Action:** Short Position
**SL:** $0.6700
**TP:** $0.5500
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### Analysis:
CRV is currently trading at $0.6458, showing a significant downtrend over the past 7 days (-19.82%). The price has been struggling to break above the $0.7537 resistance level (24h high), indicating weak bullish momentum. The 24-hour volume of $203.63M suggests moderate liquidity, which is suitable for scalping.
The price action appears to be consolidating within a descending triangle pattern, with lower highs and a strong support level around $0.6500. This pattern often signals a continuation of the downtrend. Additionally, the RSI (Relative Strength Index) is hovering near oversold territory but has not yet shown a strong reversal signal, suggesting further downside potential.
Given the bearish market structure and the lack of significant buying pressure, a short position is favored for scalping. The immediate target is a 3%-5% move, but the trade could extend to a 15% profit if the downtrend accelerates.
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### Scalping Strategy:
1. **Entry:** Enter a short position at the current price of $0.6458 or on a retest of the $0.6500 resistance level.
2. **Stop Loss (SL):** Place the stop loss at $0.6700 to account for potential volatility and false breakouts.
3. **Take Profit (TP):** Set the first TP at $0.6200 (3% profit) and the second TP at $0.5500 (15% profit) if the downtrend continues.
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🥂**Trade Now👇**
🚨**Note:** Trade at your own risk. DYOR (Do Your Own Research).
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This strategy is designed for quick scalping opportunities, so monitor the trade closely and adjust stop-loss and take-profit levels as needed based on real-time price action.
