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CRV Price Forecast 2023: Will Curve Dao Keep Losing It’s Worth?

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CRV Price Forecast 2023: Will Curve Dao Keep Losing It’s Worth?
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CRV open interest is $61.89 Million. As per Coinglass, a crypto analysis website, it fell by 1.28% in the previous session. The long versus short ratio for 24 hours is 0.8957. The short liquidation is $2.1 K versus $9.89K for the long liquidation.

Curve Dao crypto plummeted by 1.36% in market value and rose by 9.69% in trading volume in the last 24 hours, as per CoinMarketCap, a crypto data analysis website. CRV market value is $380,723,057 and its trading volume is $22,652,518. There are currently 866,899,937 CRV in circulation.

Technical Analysis Of CRV Crypto in the 1-Day Timeframe

The CRV crypto price has been on a downward spiral for the last six months, losing more than half of its value and forming lower highs and lows.

The CRV crypto price is facing a lot of bearish pressure and declining steadily. It is following a downward trendline that is acting as a resistance and signaling a downtrend. The price broke below the 50.00% Fibo level on May 8th, 2023, and continued to slide. The bears are dominating and the price is not showing any signs of recovery.

The CRV crypto price may continue to fall and test or break the support levels of $0.40384000 and $0.31982468, if it fails to hold the current level and drops further.

Alternatively, if the price stays at the CMP level and breaks above the trendline, then it may reach the nearest target resistance levels of $0.56189272 and $0.61943850.

Source: CRV/USD.1D.BITFINEX by TradingView

The CRV crypto price is under the 50 and 100-day exponential moving averages, which are resisting the CRV crypto price.

The MACD line, at 0.03514093, and the signal line, at 0.04062356, are both below the zero line. They have crossed and are close to each other, which indicates the price is not changing much as shown in the MACD oscillator. The current value of the relative strength index (RSI) is 31.47 points, and the 14-day simple moving average (SMA) is below the middle line at 28.75 points. These indicators together suggest that the market has neutral to bearish sentiments.

Conclusion

CRV crypto price prediction indicates the neutral to bearish sentiments and perspectives of investors and traders regarding the crypto in the daily time frame. Curve Dao price action highlights a consolidation to a negative outlook at the time of publishing. Moreover, the most sought and reliable technical oscillators like RSI, EMA, and MACD suggest the continuation of neutrality over the daily time frame chart regarding the price.

Technical Levels:

  • Support levels: The nearest support levels are $0.40384000 and $0.31982468.
  • Resistance levels: The nearest resistance levels are $0.56189272 and $0.61943850.

Disclaimer

In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

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