- Curve DAO Price Prediction suggests significant rise is possible in coming months.
- CRV Price faced rejection at $1.00 and dropped below both the EMAs.
- Curve DAO Token price continues to consolidate in the narrow range.
Curve DAO Price Prediction suggests significant rise in CRV crypto is possible if buyers defend the $0.700 support. From the past few months, CRV price is consolidating in the range between $0.700 to $1.100.
Buyers tried multiple times to break the range but got rejected due to the strong presence of sellers in the supply zone.
Curve DAO price dropped below the $1.00 which hurted the sentiment of the long term investors. Slow and steady prices declined and bears dragged it down to the lower range.
CRV price is trading below 50 and 200 day EMA shows downtrend. However, the EMAs curve is sloping sideways, denoting bears losing the downside momentum and prices are likely to consolidate for some more time.
Curve DAO price is consolidating near to the demand zone but sellers seem to be more active as compared to buyers. Therefore, the support zones are at risk.
Curve DAO Price is trading at $0.776 with an intraday rise of 0.26%. The 24 hour volume to market cap ratio is 0.0878. The CRV/BTC pair is trading at 0.00003008 with an intraday decline of -0.13%. This pair looks more weak and hitting yearly lows.
Will Curve DAO Price take U-turn from support?
Curve DAO Price fell 8% in the previous session and formed a giant bearish candle. However, the trading volume remains stable and has not witnessed a spike in the selling volume. It might be an indication of the trap build up for the sellers.
If the buyers are able to defend the $0.700 support then short term bounce is possible. However, the price will lack momentum until it breaks the $1.113 hurdle.
On the other hand, if the sell off continues and price dropped below the $0.700 level then it may raise concern for the long term investors.
The technical analysis suggests, CRV price is in the bear grip and possibility of taking U-turn from the support is low. Therefore, more downside in CRV is possible.
CRV price is bearish on multiple time frame
CRV Price formed bearish marubozu candle on a weekly time frame and eroded the gains of past 3 weeks. The chart pattern is also bearish and does not show any signs of reversal.
The technical indicators like MACD had displayed a fresh negative crossover. It shows the sellers are strengthening the grip and bearish momentum might continue in coming weeks.
The RSI at 35 sloping down denotes weakness. However, the price is near to the oversold territory and a relief rally may trigger any time to clear out the short positions.
Conclusion
Curve DAO Price Prediction suggests a rise in the long term. But till it trades below $1.00 the prices are expected to remain in bear grip. CRV price is near the demand zone but no signs of recovery are visible.
The technical analysis says, Curve DAO Price is in downtrend and more downside is possible. Therefore, it’s better to avoid for long term pick until it breakout of the $1.00 hurdle.
Technical levels
Resistance levels: $1.113 and $1.300
Support levels: $0.700 and $0.600
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.