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- The token is undergoing a long-term downtrend.
- The CRV token is trading above all-time low.
CRV has dropped in recent weeks as bears have pounced. The present bear market has been merciless to traders and investors. Given the strong relationship between CRV and ETH, it is expected to fall significantly in the near future.
Will CRV bounce off the demand zone?
Bears are in command, and the price of CRV has been steadily dropping in recent months. The overall outlook for the token is bearish, with lower highs and lower lows forming. CRV is now trading at $0.524 with loss of -3.21% in past 24 hours, close to its all-time low of $0.4038 on the daily chart. Price is trading in a downward parallel channel, maintaining the pattern by respecting the channel’s highs and lows. CRV is trading below its 50 and 200 day moving averages. (Red line is 50 EMA & blue line is 200 EMA). For a long time, the token has been consolidating within the demand zone and is encountering resistance at the 50 EMA.
Relative Strength Index: The asset price’s RSI is presently trading at 41.32, indicating that it is in the oversold zone. The RSI curve was not able to cross above the halfway mark of 50. If the price is unable to retain its support level and falls below the all-time low, the RSI value may go below 30, indicating a strong oversold zone.
Analyst view & Expectations
Since price has been consolidating in the demand zone for a long time, a breakout in either direction will cause a significant move. The 50 EMA is acting as a strong barrier to the token’s ability to cross and hold above it. Intraday traders, on the other hand, have a good opportunity to go short if the token crosses the demand zone.
According to our current Curve(CRV) Token price prediction, the value of Curve(CRV) Token is expected to fall by -9.15% over the next few days, reaching $ 0.481770. Our technical indicators indicate that the current sentiment is bearish, with the Fear & Greed Index reading 26. (Fear). Curve(CRV) Token has 12/30 (40%) green days and 9.45% price volatility in the last 30 days. According to our Curve(CRV) Token forecast, now is not the moment to buy Curve(CRV) Token.
Technical Levels
Major support: $0.500
Major resistance: $0.570
Conclusion
The Curve token’s price remains negative. It is now trading near its all-time low. The downtrend will continue if the price falls below the demand zone. Instead of buying now, retail investors should wait for bullish momentum.
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.
