$CRV 1H level is currently in a healthy flag consolidation range (81.5-84.5) after a violent surge yesterday. The 4H level has confirmed a breakthrough of a multi-week oscillation platform, with the trend turning into a strong bullish. The current 1H RSI has pulled back from the overbought area to around 75, building up strength for another rise. The buy depth is significantly thick (depth imbalance 15.87%), indicating strong support below. OI is stable, and the price is firm, which is a typical strong pullback in a bullish trend, presenting an excellent second entry opportunity.
🎯Direction: Long
🎯Entry/Limit Order: 82.80 - 83.20 Range Entry in Batches (Reason: 1H EMA20 Dynamic Support + Previous Wave's 0.382 Fibonacci Retracement Level + Upper Edge of Dense Trading Zone)
🛑Stop Loss: 81.30 (Reason: Breaking below the lower edge of the 1H consolidation platform and the 0.618 Fibonacci key support, the trend may weaken)
🚀Target 1: 85.50 (Reason: Previous high resistance level, also the preliminary target at the 4H level)
🚀Target 2: 88.80 - 90.00 (Reason: Based on the 1.618 Fibonacci extension level of the recent price increase and psychological integer level)
🛡️Trade Management:
- Position Suggestion: Standard Position (Reason: 4H trend is clear, 1H structure is clear, favorable risk-reward ratio)
- Execution Strategy: Adopt a phased entry strategy, placing orders at 82.8 and 83.2 respectively. After reaching Target 1, reduce the position by 50% to lock in profits and move the stop-loss of the remaining position up to the average entry price (break-even point). If the price strongly breaks through 85.5, the remaining position's stop-loss can be adjusted to hold for the second target.
Deep Logic: The price surged over 30% within 24 hours, but the open interest (OI) remained stable rather than spiking, which rules out pure short squeezes and suggests continuous inflow of capital driving the price up. The buy/sell transaction ratio in the 1H has rebounded to 0.54 in the latest candlestick, indicating that buying interest is becoming active again. The 4H RSI is as high as 86, although in the overbought territory, it can be sustained in a strong trend, with a key focus on observing the 1H level for pullback entry opportunities. There is a large volume of buy orders accumulated in the 83.2-83.3 range, forming a strong support wall.
View real-time market data 👇 $CRV
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