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The CRV prices attempt a bullish reversal from the support trendline within the rising channel to crack above the $1.50 mark.
Key Technical Points:
- The Curve Dao (CRV) price action teases a bullish turnaround as the lower price rejection candles form at the support trendline.
- The previous bear cycle from the resistance trendline accounts for an 18% drop in the last five days.
- With a market cap of $703 million, the intraday trading volume of Curve Dao has increased by 32% to reach $228 million.
Past Performance of CRV
As predicted in our previous article, the CRV prices beat the then opposing 100-day SMA to reach the resistance trendline slightly above the $1.50 mark. After that, however, the buyers lose trend control due to the increased supply pressure at the psychological mark of $1.50. This bearish turnaround tests the support trendline and accounts for an 18% price fall last week. But the recent lower price rejection candles near the support trendline and the 100-day SMA projects a high possibility of a bull cycle. 
Source - Tradingview
CRV Technical Analysis
As the CRV price trend prepares for a bull cycle, the spike in intraday trading volume reflects an increased bullish commitment. However, a candle closing below the support trendline will initiate a bearish downfall. With the bear cycle clinging to the 100-day SMA, the bullish influence grows over the 50-day SMS resulting in a positive turnaround. The RSI slope is exhibiting its sideways movement within the overbought zone, which indicates a weakness in the underlying bullishness. Furthermore, the MACD indicator shows the fast and slow lines with increasing intensity of the negative MACD histograms. Hence the technical indicators maintain a neutral viewpoint for the upcoming trend. In a nutshell, the CRV technical analysis shows a bullish reversal possibility from the support trendline.
Upcoming Trend
If the Curve Dao prices take a bullish reversal from the support trendline, the Bull Run might exceed $1.50 to reach the resistance trendline close to $1.65. Conversely, a bearish downfall below the support trendline might reach the bottom support at $1. Resistance Levels: $1.50 and $1.65 Support Levels: $1.20 and $1