Brief Analysis——CRV
Two months ago, CRV was sold off as Curve was hacked. And the founder Michael Egorov borrows stablecoins by mortgaging CRV in lending protocols such as AAVE and Fraxlend. The risk of CRV is spread across these lending agreements. The liquidation price for these loans at the time was $0.4. For a long time afterwards, in order to avoid the occurrence of liquidation disaster, Michael sold CRV through OTC to obtain stable currency assets and repay the loan. The price of CRV sold through OTC is $0.4, and the buyer verbally promises a lock-in period of more than 6 months.
Recently, CRV has risen, becoming one of the best-performing tokens since September. Our research found that Michael has paid off all his loans on the AAVE protocol and has seen a decline in health rates on other protocols. The next CRV liquidation price was reduced to $0.378.
On the upswing of CRV, bears was not strong. We can see from the MBF indicator that bottom buying sentiment continued to increase as the price approaches $0.4. These sentiments do not include OTC buyers. Combined with the WTA indicator, these dips are more the behavior of major retail investors, and the blue columns are not obvious in the early stages of the rise.
Switching to the 4h level, we can see that starting on Sep.20, whale participation began to increase. The slope of rise steepens. But in detail, the decrease after the increase in whales is also obvious (shown in the black rectangle). In the first black rectangle, CRV callback and some whales start to take profits and close their positions. After that the price rises again and an upward pin-bar appears. In the second black rectangle, another part of the whales once again took profit, and the price remained fluctuating to protect the whales' profits. We have seen this phenomenon many times with other coins.
Let's talk about something different. We have pointed out two position with green arrows where the bulls experienced strengthening. Although many whales have left. The bulls in this part may be supported by retail investors. If you hold a long position, you can take profits after the bulls decreases. There is a certain possibility that whales will enter the market again after the fluctuation, so in addition to the candles, you need to pay attention to the blue columns on the WTA indicator.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Recently, CRV has risen, becoming one of the best-performing tokens since September. Our research found that Michael has paid off all his loans on the AAVE protocol and has seen a decline in health rates on other protocols. The next CRV liquidation price was reduced to $0.378.
On the upswing of CRV, bears was not strong. We can see from the MBF indicator that bottom buying sentiment continued to increase as the price approaches $0.4. These sentiments do not include OTC buyers. Combined with the WTA indicator, these dips are more the behavior of major retail investors, and the blue columns are not obvious in the early stages of the rise.
Switching to the 4h level, we can see that starting on Sep.20, whale participation began to increase. The slope of rise steepens. But in detail, the decrease after the increase in whales is also obvious (shown in the black rectangle). In the first black rectangle, CRV callback and some whales start to take profits and close their positions. After that the price rises again and an upward pin-bar appears. In the second black rectangle, another part of the whales once again took profit, and the price remained fluctuating to protect the whales' profits. We have seen this phenomenon many times with other coins.
Let's talk about something different. We have pointed out two position with green arrows where the bulls experienced strengthening. Although many whales have left. The bulls in this part may be supported by retail investors. If you hold a long position, you can take profits after the bulls decreases. There is a certain possibility that whales will enter the market again after the fluctuation, so in addition to the candles, you need to pay attention to the blue columns on the WTA indicator.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
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