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- 1 Curve Dao is currently observing a consolidated trend with a negative crossover with DMA
- 2 Technical indicators of CRV are favoring a downside trend.It has seen a drop of 1.8% in BTC pair
Curve DAO is a decentralized finance platform which operates on the Ethereum blockchain. It was created to provide liquidity for stablecoins and other similar assets, allowing for efficient and cost-effective trading. Curve Dao has gotten a strong hold among traders as it has low slippage and high yield. CRV, the token of Curve Dao, can be used for voting on governance decisions, such as protocol upgrades and fee changes. CRV holders also receive a portion of the platform’s trading fees as a reward for staking their tokens. Curve DAO is its automated market maker (AMM) algorithm, which allows for efficient and accurate pricing of assets. It is specifically designed to handle stablecoins, which are pegged to a stable asset such as the US dollar. It has a negative ROI but can see a positive returns in the near future. It has a TVL of $5 Billion and can see an increase in the future. Various analysts are expecting a strong growth in the future.
Curve DAO has a market cap of $738 Million and is ranked 71st in the cryptoverse.Volume of the asset price has seen a decline of 20% in intraday session.Volume to market cap ratio of CRV suggests a consolidated trend in price.
Bears Of CRV Are Pushing Down
The weekly technical chart of the CRV suggests a consolidated downside trend in price.It has been in a downside trend but can see a reversal in price.On the daily chart it is trading near the value of $1.0 with a small gain in the intraday session.It may see a breakdown to the next support level in future.Resistance of CRV can be seen near $1.3.Meanwhile the support of the asset price can be observed near $0.85.It is trading above the 50 and 100 Daily Moving Average.It can see a negative crossover which push the asset price to a new low
RSI of the CRV is currently near 46 suggesting its presence in the oversold zone.There is a downside slope suggesting a consolidated momentum.
Conclusion
Curve Dao has seen a stronger growth among the traders and may continue to rise. CRV is currently in a consolidated trend but can see a breakdown to the next support level.
Technical Levels
Major Support:$0.75
Major Resistance;$1.3
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
