- The Curve DAO Token price is trading lower below the crucial $2.6 support level after breaking down of Triangle pattern.
- The Curve DAO Token is remaining below the significant moving averages (such as 20,50,100 and 200 MAs) over the daily price chart.
- The CRV/BTC pair price seems to be stable at 0.00005909 Satoshis.
The Curve DAO token price has been underperforming for the past several days after hitting the highest level in the year 2021. Recently, the coin price noted the 2022 year’s lowest level at $1.89 and bounced back by indicating a hammer candle on 24 Feb. Near the crucial level of $3.10, the price action of the CRV showed a triangle pattern over the daily price chart.
The CRV token price has approached yesterday’s session’s 20-day moving average (Blue) as a bullish hurdle. At the time of writing, the CRV token price is trading at $2.45, which is slightly bearish by 1.6%. However, the cryptocurrency has lost 32% trading volume over the past 24-hours trading session. Meanwhile, the volume to market capitalization ratio is 0.2117.
The Curve DAO token has a crucial support level at $2.0, and the $2.70 level is acting as a short-term resistance level. The CRV/BTC pair price seems to be stable at 0.00005909 Satoshis, and the Curve DAO price with Ethereum is bullish by 2.5% at 0.0009018 ETH.
The daily RSI remains below 50-mark for DAO
The RSI has been consolidating below the half-line (50-mark) since mid-Jan in terms of a daily price chart. RSI attempted multiple times to expend above 50-mark. At the time of writing, the daily RSI is at 42-level. Bulls may act aggressively above the 50-mark.
The Ichimoku indicator is still reflecting the bearish zone over the daily price graph. Where Leading Span A is at $2.56, and Leading Span B is at $3.68.
Conclusion
Curve DAO investors can feel safe above the demand zone (Green Zone), below the $2.0 support level, CRV token price could turn more bearish.
Resistance level- $2.7 and $3.5
Support level- $2.0 and $1.2
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.