- The 20-day EMA acts as dynamic support for the CRV token price
- The CRV/BTC pair was trading at 0.0006172 BTC with a gain of 16.72%
- The 24-hr trading volume in CRV token is $604.4 Million, indicating a 49.05% hike
As mentioned in my previous article on Curve Dao, the token price bounced from the 20 EMA line with a morning star pattern, initiating a new rally in this token. On October 23rd, the CRV price finally breached the previous swing high of $3.5, suggesting the continuation of its uptrend. The volume activity has also increased significantly and is above the 20 moving average lines.
Regarding the EMA’s, the CRV token price is trading above the crucial EMA’s 20, 50, 100, and 200, indicating a solid uptrend in this token. Moreover, the 20 EMA line provides strong dynamic support to the CRV price.
The Relative Strength Index (RSI) value is at 72, indicating a bullish sentiment in the CRV token as the price has shown a steady growth similar to the token’s price action.
The CRV Token Chart In The 4hr Time Frame
In the last three trading days, the CRV token has shown a sudden surge in price, offering a 40% gain for its investors. This new rally has reclaimed the crucial resistance of $3.5 and provided another entry opportunity for its traders. The CRV trader can expect the price to retest the $3.5 level to obtain proper support.
The nearest horizontal level for CRV price is at $3.9, followed by the $4.26 mark. In case the retest of the $3.5 support fails, the next significant support for the price will be at $3.1
Conclusion: From the technical perspective, the CRV token suggests the price continues its uptrend as the price has breached the previous swing high of $3.5. However, the price is yet to retest this level, which would confirm if the breakout was genuine or not.
Support – $3.5
Resistance $3.9