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•CRV/USD is currently priced at $0.61 and has decreased by 1.92% over the past day
•The trading volumes have decreased by 22.27% over the past day
•The technical indicators suggest a bearish outlook for the near term
Short Term View: CRV bulls need to be on the lookout
The Curve DAO Token price today is $0.618631 USD with a 24-hour trading volume of $31,713,660 USD. Curve DAO Token is down 1.92% in the last 24 hours. The trading volumes have decreased over the past day whereas the Volume to Market Cap Ratio stands at 0.09511 for the altcoin.
CRV is currently engaged in a bidding war as a downtrend has ensued in the market due to the bears punching well above their weight in the market. The shift in sentiment has led to the Curve DAO Token price to shift below the 20,50 SMA on the four hour chart and a move below the $0.50 support level would further consolidate their presence. On the flip side, the resistance level is placed at $0.70 for the altcoin in the event of a trend reversal.
Long Term View for Curve DAO Token
The RSI for Curve DAO Token has slid down the barrel over the past few days and is currently transacting at 43.59. The green histograms have waned in strength in the daily chart as the bears have made merry in the market. The worsening situation could lead to the development of a bearish crossover on the daily chart whereas the MACD and signal lines continue to transact in the negative territory.
Conclusion
CRV has taken a less scenic route over the past couple of days as the negative price action has left the bulls gasping for breath. The technical indicators suggest a hawkish outlook for the near term.
Support: $0.55-$0.50
Resistance: $0.65-$0.70
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.
