Why CRV is a good chance for profit. 30x

By OvermindSB | SwissBorg | 7 Dec 2020

CRV Curve DAO token

Curve has seen a long period of bleed out until the 2020-10-19 and retested the support at 0.328 $ on the following week. On the next weeks it formed a bullish flag in which the MA was already retested. Now it continues the upward trend. When everything is playing well out, CRV will breakout the Triangle and retest the support an keep up the bullrun. Taking the current situation of the Bitocoin rally into account it probably can play out the opposite, but if so it will potentially have a 30% correction back to the previous established support at 0.471 $ and surely will bounce back on entering level. However all in all a pretty nice long term Risk Reward Ratio of approximately 1:100. So it might be not wrong to have a small portion into your portfolio, in my opinion (no advice!). Especially if DeFi continues to grow in the next year this is potentially a probable scenario.

Giving that CRV has a potential to perform pretty well for the upcoming year. In numbers it might be possible to get a 30x.

Bullflag formation:

The upcoming weeks will show how this will play out. For now the bull flag pattern was confirmed so far in the past 4 weeks.

Hopefully it will breakout on next or two weeks. If so we could expect a retest of the newly establsihed support. This will also reduce the risk to a certain point to see the support at 0.471 $ again.

Images were snapshot on 07-12-2020 at 10:00 am (CET).

Disclaimer

No financial advice this is just my thoughts and opinion, if you buy this asset it is on your own risk including the losses you might take.

Thanks for reading.

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