Thoughts on $CRV Re-testing 0.23 in May
Been watching $CRV closely, especially after its recent run and the subsequent pullback. We saw it hit 0.2397 today, and it feels like the path of least resistance is still downwards in the short term, given the broader market sentiment and some of the FUD around Curve's stablecoin.
I'd put the odds at about 65-70% that we see $CRV re-test the 0.23 level before the end of May. The reasoning is pretty straightforward: selling pressure hasn't fully abated, and there's no major positive catalyst on the immediate horizon to reverse the trend. Liquidity at current levels seems a bit thin too, which could accelerate a move if sellers step in. Not saying it's a certainty, but that range seems like a reasonable target for the current dynamics. Obviously, any significant news, positive or negative, could shift this outlook instantly.
I'm curious about what specific FUD you're referring to, as there's always noise. While a re-test is plausible, I'd also consider the potential for a relief bounce if the broader market stabilizes, especially with a target as round as 0.23.