CRV price - "Inverted Head and Shoulders" pattern on a chart ?

26 thg 6, 2023

Today we will analyze the price movement of CRVUSDT on the global chart.

It can be assumed that the global "Inverted Head and Shoulders reversal pattern" has been forming on the CRVUSD chart for the past year. At least, the price structure and the falling trade volumes from the left to the right shoulder correspond to those described in the Encyclopedia of Trading Patterns.

A surge in trading volumes should occur after the price of CRV tries to break through, and hopefully breaks through and consolidates above the $1.18 level. As you can see from the trading history, there was a lot of struggle between buyers and sellers around this level.
But before that, buyers need to break through and gain a foothold above the local level of $0.80-0.82. Buyers have a lot of work to do to revive speculators' interest in the CRV

Well, after the CRVUSDT price is firmly established above $1.18, the Inverted Head and Shoulders pattern will finally activate. At the same time, the long-term target for the growth of the CRV price, which is in the range of $3.50-4.50, will be activated, and we were remembering the average - $4 per Curve DAO token.
_____________________
Did you like our analysis? Leave a comment, like, and follow to get more