Trade Setup ; š„ Emergency Update #CRV :
Trade setup:Ā Price is trading in aĀ Channel UpĀ pattern.Ā Swing traders:Ā can enter near Channel support trendline (~$0.60) and exit near Channel resistance trendline (~$0.75). Stop Loss (SL) at $0.50. Previously, price broke above 200-day moving average to confirm a bullish trend reversal to an Uptrend. (set a priceĀ alert).Ā Curve (CRV)Ā is a well-established DEX used primarily for swapping of stablecoins.
Pattern:Ā Price is trading in aĀ Channel UpĀ pattern. With emerging patterns, traders who believe the price is likely to remain within its channel can initiate trades when the price fluctuates within its channel trendlines. With complete patterns (i.e. a breakout) ā initiate a trade when the price breaks through the channelās trendlines, either on the upper or lower side. When this happens, the price can move rapidly in the direction of that breakout.
Trend:Ā Downtrend on Short-Term basis and Uptrend on Medium- and Long-Term basis.
MomentumĀ is Bearish (Ā MACDĀ Line is below MACD Signal Line, and RSI is below 45).
Support and Resistance:Ā Nearest Support Zone is $0.55 (previous resistance), then $0.40. The nearest Resistance Zone is $0.75, then $0.90.
