thecoinrepublic.com
- 1 Curve DAO token’s price is preparing to make a bullish recovery.
- 2 CRV has increased by 17.62% in the last 7 days.
Curve DAO price prediction is showcasing that bulls are preparing to make a comeback after a recent sell-off. The price of the Curve DAO token is making a bullish engulfing candle after making a short consolidation channel below the 200 Moving Average and Exponential Moving Average on the daily timeframe.
Curve DAO is a decentralized platform that is built on the Ethereum blockchain that aims to provide a stable and efficient market for trading stablecoins. The platform employs a unique liquidity pool algorithm called “Curve” through which users can trade stablecoins with minimal slippage.
Technical Analysis of CRV Price On Daily Chart
The price of the Curve DAO token is presently making a bullish rally on the one day chart. It is making a bullish breakout above the narrow consolidation, though the CRV token has multiple resistance levels above it which might prove to be challenging for buyers break through. The various barriers present above the price decrease the probability of a breakout of the downtrend significantly.
The RSI line is steadily making a positive breakthrough above the median line. Presently, the RSI value of the CRV coin is 54.02 points, gaining support from the 14 SMA at 36.22 points. The RSI line suggests that Curve DAO coin could retest from its resistance levels.
Technical Analysis on Daily Chart CRV/BTC
The CRV/BTC pair is presently trading within a descending parallel channel with a slight decline in its value in comparison to the CRV/USDT pair. The price has been falling steadily and is persently taking support from the base level of the channel by making a green engulfing candle.
The price of CVR token is presently moving under all the major 20/50/100 and 200 EMA levels.
The oscillators are presenting a contrasting view. The RSI line is taking a reversal from the demand zone, whereas the stochastic RSI has reached the overbought zone.
Conclusion
According to the analysis, Curve DAO price action indicates that it can make a bullish rally in the near future. The price of the Curve DAO token is making a bullish engulfing candle which indicates that the bulls are stepping back into the market.
Technical levels –
Support – $0.600
Resistance – $1.000
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.