- The CRV token price is obtaining good support from the 20-day EMA
- The CRV/BTC pair was trading at 0.0004378 BTC with a gain of 0.03%
- The 24hr trading volume in CRV token is $2253 Million, indicating a 126% hike
As mentioned in my previous article on Curve Dao, the coin price tried to bounce from the $30 support with a morning star pattern. However, the price couldn’t rally much higher and was immediately rejected from the nearest horizontal resistance of $3.1. Hence the coin was plunged back to the $30 support, and now, with the support of 20 EMA, it’s ready to give another reversal with the same morning star candle pattern.
Concerning the EMA’s: The CRV token price is trading above the crucial EMA’s 20, 50, 100, and 200, indicating a bullish trend. Moreover, The price is obtaining strong dynamic support from the 20 EMA line.
The RSI value is at 55, indicating a bullish sentiment in the CRV token.
The CRV Token Chart Shows A Ascending Trendline.
The CRV token chart has displayed a reliable ascending trendline, providing strong support to the coin price. This support trendline is used to maintain an uptrend in the technical chart, and the crypto could find a good entry opportunity whenever the price shows good demand pressure at this level. The current price of the CRV token is $2.9, with an intraday gain of $4%.
The moving average convergence/divergence indicator (BULLISH) shows that both the MACD and the signal line are about to move above the neutral area(0.00), providing a great confirmation for the price if it wants to start a new rally.
Conclusion: From the technical perspective, the overall trend of CRV tokens is still bullish. And as mentioned, the price is trying to continue its rally;, but the $3.1 resistance stands as a formidable resistance for this coin. Thus, once the price gives a proper breakout from this resistance, the traders will be provided with an excellent long opportunity to trade.
Support – $2.73