altFINS

Show

Momentum

<p><strong>The recent events surrounding the Curve Finance ($CRV) token have been a rollercoaster ride, with prominent Twitter analysts providing their insights and updates on the situation.</strong></p> 
<p>Andrew Moh (@0xAndrewMoh), a well-known trader, <strong><a href="https://twitter.com/0xAndrewMoh/status/1687520041481478144?s=20" target="_blank" rel="noopener noreferrer nofollow">raised concerns </a></strong>about the potential impact of Wintermute’s actions on the $CRV market. Wintermute moved 12.5M $CRV to Binance at a price of 0.6, potentially making $2.5M. He questioned the potential consequences if Curve collapses.</p> 
<p>Crypto Macro (@cryptomacro14), a famous Twitter analyst, <strong><a href="https://twitter.com/cryptomacro14/status/1687473167085051904?s=20" target="_blank" rel="noopener noreferrer nofollow">reported</a></strong> that the looter behind the $61M Curve $CRV hack has started <strong>returning assets</strong>, raising hope for recovery.</p> 
<p>Cæsar (@PARABOLIT), a top-notch analyst, <strong><a href="https://twitter.com/PARABOLIT/status/1687092851371597824?s=20" target="_blank" rel="noopener noreferrer nofollow">compared the situation</a> with $CRV to a short squeeze scenario similar to $SOL</strong>. He suggested <strong>a bounce back to $1</strong> could potentially destroy the mass short build-up.</p> 
<blockquote class="twitter-tweet"> 
 <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24CRV&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$CRV</a> is very much giving me the <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$SOL</a> short squeeze vibes.<br><br>Bounce back to $1 to destroy this mass short build up looks programmed</p>— Cæsar (@PARABOLIT) <a href="https://twitter.com/PARABOLIT/status/1687092851371597824?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 3, 2023</a> 
</blockquote> 
<p>Ignas (@DefiIgnas), a technical analysis expert, expressed optimism about the survival of CRV. He pointed out that even if the Curve hacker dumped all stolen $CRV, the price would drop to $0.41, well above Aave’s liquidation price of $0.29. He also noted the increase in the Curve 3Crypto pool of crvUSD+ETH+CRV, which went from $2.4M to $3.9M in a day.</p> 
<p>CryptoSpartans (@THCryptospartan), a well-known trader, brought some good news to $CRV holders. The exploiter responsible for<strong> draining some $62 million assets</strong> held on Curve Finance has returned some of the stolen cryptos after engaging in talks on Friday.</p> 
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:"> 
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"> <i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i> 
  <div class="rh-colortitle-inbox-label">
    Huge $1,200 Giveaway is Underway on our Twitter account – Enter Today! 
  </div> 
 </div> 
 <div class="rh-colortitlebox-text"> 
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px"> 
   <div class="rh-toggler-wrapper" style="height:100px"> 
    <blockquote class="twitter-tweet"> 
     <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4b0.png" alt="💰" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/GIVEAWAY?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#GIVEAWAY</a> $1,200! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4b0.png" alt="💰" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>We've teamed up with <a href="https://twitter.com/CoinStats?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@CoinStats</a>, your ultimate <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#crypto</a> portfolio manager, to gift 3 Lifetime Premium Accounts, each worth $399!<br><br>To enter:<br><br><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/2795.png" alt="➕" class="wp-smiley" style="height: 1em; max-height: 1em;"> Follow <a href="https://twitter.com/CoinStats?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@CoinStats</a> &amp; <a href="https://twitter.com/CaptainAltcoin?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@CaptainAltcoin</a><br><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/267b.png" alt="♻" class="wp-smiley" style="height: 1em; max-height: 1em;"> Retweet and <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/2764.png" alt="❤" class="wp-smiley" style="height: 1em; max-height: 1em;"> this post<br><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f5e3.png" alt="🗣" class="wp-smiley" style="height: 1em; max-height: 1em;"> Tag 2 friends in the comment<br><br>We will… <a href="https://t.co/woc2moUZE8" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/woc2moUZE8</a></p>— Captain Altcoin (@CaptainAltcoin) <a href="https://twitter.com/CaptainAltcoin/status/1687396480334659589?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 4, 2023</a> 
    </blockquote> 
    <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span> 
   </div> 
  </div> 
 </div> 
</div> 
<h2 class="wp-block-heading" id="crv-altfins-technical-indicators-show-bullish-signs">CRV: altFINS’ technical indicators show bullish signs</h2> 
<p>In the aftermath of the tumultuous events, the price of CRV seems to have found some stability. The coin has established a strong support level at $0.50, demonstrating resilience in the face of adversity. As of the latest trading data, CRV is currently priced at $0.61, marking a 5% increase in the last 24 hours. This recovery, albeit modest, is a positive sign for investors and holders, suggesting that the market is beginning to regain confidence in the token.</p> 
<p>In addition to the recent price stabilization, altFINS’ technical indicators are showing bullish signs for CRV. Despite the coin breaking out of its Channel Up pattern bearishly, falling below the channel support trendline and the $0.75 support zone, there are signs of recovery.</p> 
<p>Curve (CRV), a well-established DEX primarily used for stablecoin swapping, experienced a significant exploit recently. However, the business shows signs of stabilization and recovery. The price plummeted to the $0.50 support level, where it has so far found support, backed by robust volumes. This level also served as a support in November and December 2022, preceding a significant rally. Despite the overall downward trend, this could present a higher-risk trade opportunity.</p> 
<figure class="wp-block-image size-large"> <a href="https://captainaltcoin.com/go/altfins/" target="_blank" rel="noopener noreferrer nofollow"><img decoding="async" loading="lazy" width="1024" height="551" src="https://captainaltcoin.com/wp-content/uploads/2023/08/image-155-1024x551.png" alt="" class="wp-image-305178" srcset="https://captainaltcoin.com/wp-content/uploads/2023/08/image-155-1024x551.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-155-300x162.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-155-767x413.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-155-1536x827.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-155-2048x1103.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-155-279x150.png 279w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-155-100x54.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-155-650x350.png 650w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-155-788x424.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-155.png 1443w" sizes="(max-width: 1024px) 100vw, 1024px"></a> 
</figure> 
<p><em>Source: <strong><a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="altFINS" href="https://captainaltcoin.com/go/altfins/" data-shortcode="true">altFINS</a></strong></em></p> 
<p>The price was trading in a Channel Up pattern, and traders are advised to initiate a trade when the price breaks through the channel’s trendlines, either on the upper or lower side. When this happens, the price can move rapidly in the direction of that breakout.</p> 
<p>The trend is downward across all time horizons (Short-, Medium-, and Long-Term). <strong>Momentum is bearish</strong>, with the MACD Line below the MACD Signal Line, and the RSI is below 45.</p> 
<p>In terms of support and resistance, the nearest Support Zone is at $0.50. The nearest Resistance Zones are at $0.75 (previous support), then $1.00, and $1.25. These technical indicators provide a comprehensive picture of the current market conditions for CRV, offering valuable insights for potential trading strategies.</p> 
<h2 class="wp-block-heading" id="conclusion">Conclusion</h2> 
<p>The recent events surrounding Curve Finance ($CRV) have been a whirlwind of highs and lows. The token faced a significant exploit, leading to a drastic drop in price and a ripple effect across the DeFi sector. However, the resilience of the token and the swift actions taken by the community have led to signs of recovery and stabilization.</p> 
<p>Prominent analysts and traders on Twitter have provided valuable insights into the situation, highlighting both the challenges and the potential opportunities presented by these events. The technical analysis from altFINS further reinforces this view, showing bullish signs despite the overall downward trend.</p> 
<p>The price of CRV has found a strong support level at $0.55 and is currently trading at $0.61, marking a 5% increase in the last 24 hours. While the overall trend is still bearish, the robust volumes and the support at the $0.50 level suggest potential for a higher-risk trade opportunity.</p> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/curve-scenario-looks-similar-to-sol-crv-eyes-1-mark-says-top-analyst-but-theres-a-catch/">Curve Scenario Looks Similar to SOL: CRV Eyes $1 Mark says Top Analyst, but There’s a Catch</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Curve Scenario Looks Similar to SOL: CRV Eyes $1 Mark says Top Analyst, but There’s a Catch

Table of Contents

CaptainAltcoin

Other articles published on Aug 5, 2023

Curve founder sells $19 million in CRV to settle debts amid crisis

ARK Invest Takes a Close Look at Bitcoin’s Price, Reveals Key Factors

Elon Musk Clarifies: X Will Have Crypto

Fantom Price Prediction: Will FTM Make Its Return From Here?

The Crypto Shop { AIRDROP }

BTC hodlers outperformed crypto funds by 69% in H1: 21e6 Capital

Join our free newsletter for daily crypto updates!