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•CRV/USD is currently priced at $0.51 and has decreased by 5.44% over the past day
•The trading volumes have increased by 70.96% over the past day
•The technical indicators suggest a bearish outlook for the near term
Short Term View: CRV bulls getting exhausted as bears take charge
The Curve DAO Token price today is $0.519637 USD with a 24-hour trading volume of $43,730,899 USD. Curve DAO Token is down 5.44% in the last 24 hours. The trading volumes have increased over the past day whereas the Volume to Market Cap Ratio stands at 0.1582 for the altcoin.
Curve DAO Token has lost a bit of steam in recent days as the bears have conspired to make a splash in the market. The bearish sentiment prevailing in the market is evident by the CRV price currently transacting below the 20,50 SMA on the four hour chart. The return of the bulls could lead to CRV price steering away from the $0.60 resistance level. In the case of the sentiment not getting better, the bulls have a tough task on their hands defending the $0.50 support level.
Long Term View for Curve DAO Token
The weakening sentiment of CRV is depicted aptly by the presence of the red histograms on the daily chart. The MACD and signal lines don’t fill the investors with much hope either, as they continue to transact in the negative territory. On the other hand, the RSI for Curve DAO Token has been tumbling down incessantly towards the oversold territory and currently stands at 32.01 after having moved below the average line.
Conclusion
The threat of the bears looms large around Curve DAO Token as the bears look adamant on limiting the influx of buyers in the market. One can expect CRV prices to continue falling in the days ahead.
Support: $0.50-$0.45
Resistance: $0.55-$0.60
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.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
