en
Back to the list

Curve (CRV) and Secret Network (SCRT) Technical Analysis: Charting to New Territory?


cryptoknowmics.com 23 October 2021 12:24, UTC
Reading time: ~2 m

Curve and Secret Network buyers are firm reading from price action in the daily chart. CRV could surge above $4.5, while SCRT may rip higher to $9.

Curve (CRV)

The Curve platform allows for easy swapping of stablecoins using CRV for governance.

Past Performance of CRV

The Curve token is one of the top performers at the time of writing. With a bullish engulfing bar from the primary support trend line with increasing trading volumes, the CRV crypt uptrend is still valid.

Day-Ahead and What to Expect

From the CRV coin candlestick arrangement in the daily chart, buyers appear to be in control.

However, CRV/USDT prices, despite the sideways movement of the last few days, are capped below the primary support at $3.5.

Reading from the chart, a close above this mark may see the CRV token race to $4.5 and new all-time highs.

Meanwhile, losses below the primary support trend line may see the CRV crypto slide to $2 in the short term.

Curve Technical Analysis

There are hints of strength even as CRV/USDT prices trend higher within a wedge.

The $3.5 level is a vital liquidation line marking the coin's H2 2021 highs.

As mentioned earlier, a close above this mark may see CRV token expand to new territory to $4.5—or better.

On the flip side, steep losses below the middle BB and $2.5 may trigger a sell-off towards $2 in a correction from current highs.

Secret Network (SCRT)

The Secret Network allows for the deployment of private smart contracts and transactions. Central to the platform is the SCRT token.

Past Performance of SCRT

The Secret Network token is trading at around all-time highs at spot rates. As per the SCRT technical analysis of the daily chart, buyers are in the driving seat and confident.

Day-Ahead and What to Expect

Technically, the SCRT coin is firm to the upside.

Depending on the rapidity of the close above $7.5, SCRT/USDT may pump higher in continuation of early this month's bullish breakout.

However, a dump below $4.5 and the middle BB could slow down the uptrend.

Secret Network Technical Analysis

From the daily chart, SCRT buyers are in the driving seat.

SCRT crypto is within a bullish breakout pattern, firm to the upside with the current leg up confirming the surge of mid-October.

Since the retest is complete and the $4.5 support level holds, SCRT/USDT prices may rally to new 2021 highs at $9 and later $14—the 1 and 2.618 Fibonacci extension level of the H1 2021 trade range.


   Source
Back to the list