- Major whale activity has caused huge volatility in the DEX.
- Price surge due to white paper release, opposing the attempted attack by Avraham Eisenberg.
- The volumes are drying up for CRV.
The Curve DAO Token whales have caused big splashes in a well, worrying the investors that the token could wind up drowning in these waves. A single address largely caused these highly volatile conditions. Micheal Egorov has $48 million worth of CRV on Aave, which may be liquidated for $0.260.Holders are anxious this could have triggered a mass liquidation and may have led to another crash. Some think a planned short-squeeze on the CRV token is brewing, though there are also rumors that this is an attempted distraction from the present dried-up wells.
The sudden shot in the price of the token left the market audience awestruck as the volumes were nearly empty and the market was ice cold. The price successfully reclaimed the 20-EMA as the price surged higher and may drop as the market sees past the recent rise. It currently takes support near $0.650.
The CMF indicator lays flat after the boom and holds pace before falling. It may fall to the region below the 0 mark. The MACD indicator slightly diverged, relating to the surge in the price but may soon tangle back to coincide. The RSI indicator lays flat just about the 50-zone, being absolutely neutral, but may rise as the market may witness some buyers.
The CMF indicator goes down the road and moves below the 0-region. The fall may continue until it finds a spot to hold in the long term. The MACD indicator combines and moves almost parallel to the zero-histogram mark. The RSI indicator moves sideways in the range of 60-70 as the market stagnates.
The market is very uncertain about the token as a lot has happened recently, and it needs time to digest it. The investors have questions about it but still don’t display any lifeless signs, which may mean that a few are still rooting for it. Just because of its functionality, it may be a safe bet at these discounted rates.
Support levels: $0.650 and $0.420
Resistance levels: $0.975 and $1.100
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 financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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