- The Curve DAO Token coin is trading at $0.41, and the price has declined over $1.2% in today’s market session.
- The CRV coin is moving inside a narrow range, and the price is exhibiting a downtrend.
- The volume of the CRV coin is $114 million, which has declined by over 20%, as per Coinglass.
Curve is a decentralized exchange created for stablecoins, utilizing an automated market maker (AMM) mechanism to manage liquidity. It was introduced in January 2020 and has become closely associated with the decentralized finance (DeFi) movement.
The CRV token is currently undergoing a decline, with the price establishing a pattern of lower lows. The overall structure of the coin is displaying negative signals.
Financial Data of Curve DAO Token (CRV)
The current trading price of CRV coin stands at $0.41, marking a 1.23% decline in today’s market session. The total circulating supply of CRV coins is approximately 894 million.
CRV coin’s total trading volume amounts to $114.3 Million, which has witnessed a decrease of over -20.8% in the current market session. Additionally, the Open Interest (OI) has declined by approximately 1.8%. These trends suggest that sellers are currently dominating the market, while buyers are showing less interest in establishing positions.
Over the past year, the CRV coin recorded a negative return of more than -54%. The overall price structure exhibits bearish characteristics, forming a fragile pattern. This pattern raises the likelihood of a potential future price decline.
CRV coin achieved its peak value of $60.50 on August 14, 2021, which was nearly two years ago. Subsequently, the coin’s value underwent a substantial decline of 98.26%.
Nonetheless, the coin found support at the $0.31 level, and its price is currently fluctuating within the range between $0.31 to $1.39. The movement around the support level suggests the potential for further price declines in the future.
Curve DAO Token (CRV) Technical Analysis
CRV by writer50_tcr on TradingView.com
Technical Indicators’ Summary
The MACD line for the CRV coin is situated below the signal line. This placement is considered as a negative signal and the price is likely to decline in the upcoming days.
The RSI line is in the negative region, along with the SMA line. Both lines form a negative crossover. Hence, this indicates the probability of further declines in the price.
Conclusion
Based on the analysis, it is evident that the price of the Curve DAO token (CRV) is currently close to its historical low point. Recent market trends have shown a considerable loss of momentum in the case of CRV, coupled with a substantial drop in trading volume. Furthermore, prominent indicators like the MACD and the RSI are pointing towards a pessimistic outlook for the CRV coin. Thus, the price is likely to fall further.
Technical Levels
- Support Level: $0.319
- Resistance Level: $1.393
Disclaimer
The views and opinions of the author, or anyone named in this article, are for informational purposes only. They do not offer financial, investment, or other advice. Investing or trading crypto assets involves the risk of financial loss.