Home
News
- Curve DAO Token price must escape the parallel channel over the daily price chart.
- CRV crypto is trading below 20, 50, 100 and 200-days Daily Moving Average.
- The pair of CRV/BTC is at 0.00005395 BTC with an intraday gain of 0.33%.
The price of the Curve DAO Token has been declining via a similar downward channel on the daily price chart. The token initially tried to take advantage of the rally’s strength by advancing in the direction of the upper trendline, but it was unsuccessful and it eventually came back to the channel. Buyers are required for the CRV currency to leave the parallel dropping channel. CRV bulls appear to be fairly determined to see the CRV currency break out above the top trendline of the parallel channel once more. This suggests that the CRV currency might be getting ready to leave its channel.
The Curve DAO token’s estimated price right now is $1.06, and over the last day, it has increased in market capitalization by 0.70%. The volume of trades increased by 25% during the intraday trading session. This demonstrates that bulls are attempting to push the token. Volume to market cap ratio is 0.1186.
To move over the upper trendline and denote the breakout of the token, the price of the CRV coin needs support from buyers. However, the volume change is below normal and needs to increase for the CRV to signal a breakthrough. To prove that the token has crossed the daily price chart, CRV bulls must gather themselves in the interim.
What do Technical Indicators Suggest about CRV?
Bulls must develop before the CRV coin enters its recovery phase. Currently, the token is preparing to exit the parallel channel. It will take some time to determine whether the CRV coin can attract positive support by forecasting a significant increase in buying over the daily chart. The CRV currency has been consolidating quite a bit, according to technical indications.
The CRV coin’s Relative Strength Index demonstrates the strength of its descent. The daily chart’s RSI is at 44 and is about to highlight any directional change. The CRV coin’s downward momentum is visible on MACD. The MACD line is about to cross the signal line.
Conclusion
The price of the Curve DAO Token has been declining via a similar downward channel on the daily price chart. The token initially tried to take advantage of the rally’s strength by advancing in the direction of the upper trendline, but it was unsuccessful and it eventually came back to the channel. Buyers are required for the CRV currency to leave the parallel dropping channel. However, the volume change is below normal and needs to increase for the CRV to signal a breakthrough. The CRV currency has been consolidating quite a bit, according to technical indications. The CRV coin’s downward momentum is visible on MACD. The MACD line is about to cross the signal line.
Technical Levels
Support Levels: $0.98 and $0.85
Resistance Levels: $1.15 and $1.30
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
