CRV/USDT has successfully broken out of a falling wedge, signaling a potential bullish trend. To confirm the breakout before entering a trade, an ideal long entry would be a retest of the breakout level around $0.45 - $0.48. Alternatively, if the price maintains above $0.50, a breakout continuation entry remains valid.
For profit targets, the first level of resistance stands at $0.58, marking a key psychological level. The next major resistance is at $0.70, offering a potential 40% upside, while an extended target at $0.80+ could be reached if bullish momentum persists.
Risk management is essential, with a conservative stop loss placed below $0.45, invalidating the wedge breakout, and a more aggressive stop loss set below $0.42, which aligns with a major support zone.
With an entry at $0.48, a stop loss at $0.44 (-8%), and a take-profit target at $0.70 (+45%), the trade presents a strong risk-to-reward ratio (RRR) of ~5.6:1.
To manage the trade effectively, the stop loss should be moved to break-even once the price reaches $0.58. If the price approaches $0.65 - $0.70, securing partial profits while allowing the remaining position to run is a strategic approach.
What are your thoughts?
For profit targets, the first level of resistance stands at $0.58, marking a key psychological level. The next major resistance is at $0.70, offering a potential 40% upside, while an extended target at $0.80+ could be reached if bullish momentum persists.
Risk management is essential, with a conservative stop loss placed below $0.45, invalidating the wedge breakout, and a more aggressive stop loss set below $0.42, which aligns with a major support zone.
With an entry at $0.48, a stop loss at $0.44 (-8%), and a take-profit target at $0.70 (+45%), the trade presents a strong risk-to-reward ratio (RRR) of ~5.6:1.
To manage the trade effectively, the stop loss should be moved to break-even once the price reaches $0.58. If the price approaches $0.65 - $0.70, securing partial profits while allowing the remaining position to run is a strategic approach.
What are your thoughts?
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.