- Curve DAO price fell 14% approx on the previous week.
- CRV price slipped below 50 and 200 day EMA showcase downtrend.
- Curve DAO price prediction suggests a rise in the long term.
Curve DAO price fell 14% approx on the previous week and drops below the important support of $1.00. It indicates that short term correction has begun and sellers are more active as compared to buyers.
CRV price slipped below 50 and 200 day EMA which showcase positional trend is still in downward direction. However, both the EMAs are sloping sideways denotes prices may trade in a wide range consolidation for some more time.
Curve DAO token price performed well in the past few months and showed a decent recovery from the yearly lows. However, the momentum took hold at $1.300 and prices faced minor profit booking from the supply zone.
Curve DAO price is trading at $0.941 with an intraday decline of -0.42%. The 24 hour volume to market cap ratio at 0.083. The pair of CRV/BTC is trading at 0.00003394 with an intraday decline of -0.96%. The chart structure of CRV/BTC is forming a similar pattern like USDT and trading near to the yearly lows. It shows a low correlation with the USDT pair.
At the mid of February, Curve DAO price attempted to break the $1.300 level. Sadly the attempt was not successful and price faced rejection from the higher levels. Later, prices reverted in downward direction and corrected 37% approx from the swing high.
Will Curve DAO price regain the $1.00 level?
Curve DAO price took support at $0.800 and downfall halted near the demand zone. CRV price prediction favors the bulls and suggests a rise in the long term. Till price is sustaining above the $0.800 support.
At the beginning of April, Curve DAO price gained positive momentum and tried to regain both the EMA but failed. Suddenly, the overall market turned bearish which negatively impacted the majority of the Altcoins.
Presently, CRV price is returning back to the demand zone and downside seems to be limited. However, if the sell off continues and price drops below $0.800 then bears may try to drag it down toward the yearly lows. The technical analysis suggests, Curve DAO price is stuck into a wide range and possibility of bounce back from demand zone remains high.
CRV price: Technical Outlook
CRV price formed a bearish engulfing candle on a weekly time frame and eroded the majority portion of previous gains. Until Curve DAO price breaks either side of the range, probability of sharp up-move or down-move is low. The technical indicators like MACD had generated a negative crossover indicates bearish momentum might continue for some more time. The RSI at 42 sloping sideways denotes price might consolidate for some time and may try to test neutral territory.
Conclusion
Curve DAO price fell 14% in the previous week and dropped below $1.00 which hurted the sentiment of investors. CRV price is consolidating into the wide range and likely to break either side soon. The technical analysis suggests, CRV price is near the demand zone and possibility of bounce back remains high.
Technical levels
Resistance levels : $1.117 and $1.300
Support levels : $0.800 and $0.500
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.