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- 1 The CRV price is currently trading at $0.994 while seeing a change of 8% in 24-hour trading volume.
- 2 The CRV price has been observing a decline of 0.90% in the last 24 hours.
- 3 A bearish correction might be expected in the near future for the CRV price.
The buyers are currently presenting a negative outlook regarding the CRV price, despite the recent bullish sentiments in the overall market. The price of CRV is currently facing severe resistance from the $1.00 level. After moving out of its widening wedge pattern, the price has been making multiple attempts to break the resistance around $1.00 without success. This suggests that investors’ sentiments regarding the CRV token might take a bearish turn in the near future.
CRV price trading under the supply zone on the (Daily Timeframe)
The price of Curve Dao Token has been moving under a widening wedge for the last few months since mid-January. Following a brief narrow consolidation, CRV price attempted to make a breakout with an engulfing candle which went up to 19%. The overall gain made by the Curve Dao token price in this bull trend was 42%.
After facing resistance from $1.300, the CRV coin made a correction of 27%. The price also tried to find support from the $1.000 price by making a consolidation. However, the price of Curve Dao token was not able to sustain and made another correction of 15%. After breaking the wedge, the price started moving within a range.
Technical Analysis ( 1 Day Timeframe )
The price of Curve Dao is currently trading near the demand zone of the consolidation range. It can make a reversal of up to 18%.
The RSI is currently near the median line and it recently crossed below the 14 SMA. The current value of RSI is around 52.11 and 14 SMA is around 53.20 points on the daily timeframe.
The stochastic RSI recently took a reversal from the overbought levels of around 100 points; giving a bearish crossover. The current value of stochastic RSI is 78.63 and the making of a downward curve is supporting the bearish reversal
Conclusion
As per the analysis, Curve Dao token price is giving strong indications of a bearish reversal from the supply zone. If the price faces rejection from the current level, it can take a correction of 18%. The Curve Dao price is currently facing resistance around the price of $0.1000, trading around the 200 EMA while its support level is near $0.720.
Technical levels –
Support -$0.720
Resistance – $0.1060
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.