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- Trading volume has surged by 720% in the past 24 hours.
- The Curve Dao Token price has lost around 50% this month, showing weakness.
According to the technical chart, the CRV crypto price has declined by more than 70% since mid-March. The Curve Dao Token price has triggered a strong breakdown from the major support level of $0.400 and dropped by 35% in 3 days.
Curev Dao Token price has been in a strong bearish trend over a larger time frame. It has recorded an all-time low of $0.220 on June 13, 2024.
When writing, the CRV price traded at $0.274 with an intraday loss of 38%. The market capitalization is $335.61 Million, and the 24-hour trading volume is $558.88 Million. CRV crypto ranks 19th in the cryptocurrency market in terms of trading volume.
Mass Liquidation
#PeckShieldAlert #Liquidation A Whale 0xF078…0f19E has been liquidated 29.6M $CRV after CRV dropped below $0.25 pic.twitter.com/aIK8ciZabp
— PeckShieldAlert (@PeckShieldAlert) June 13, 2024
According to a source on X, a whale has been liquidated 29.6 Million CRV after the price slipped below the $0.250 level. Most of the whales have liquidated below the major support level.
A Wild Change in Volume Took Place!
The trading volume has surged by more than 700% in the past few hours, and the price has dropped by more than 30%. The considerable volume change has triggered a breakdown from the major support level.
Will the CRV Price Rebound or Keep Declining?
In a daily time frame, the Curve Dao Token price has slipped below the $0.400 level due to intense selling pressure. Suppose the buyers show interest and the price bounces back; it may rise to the $0.400 mark.
The CRV price over the $0.400 level might demonstrate that the sellers have been trapped. Most sellers may hit stop-loss over the $0.400 mark, resulting in solid selling pressure.
On the other hand, the Curve Dao Token price is at an all-time low and seems weak. If buyers fail to return, selling momentum may keep it on. According to the chart structure, the price has been falling by forming lower lows and lower highs. The chart displays that the CRV price is heading for a new lower low.
According to the technical indicators, the CRV crypto price is trading below the key moving averages, which showcases the bearish momentum. MACD has developed red histograms and has generated a death crossover with the Signal line. It has yet to drop below the zero line, which indicates the sellers’ grip.
Conclusion
The current situation of the CRV token seems quite uncertain, with a significant decline in price and a surge in trading volume. The technical chart indicates a strong bearish trend, and the token has reached an all-time low. The potential for a rebound exists if buyers show interest and the price surpasses the $0.400 mark, but there is also a possibility of continued decline if selling momentum persists.
Technical Levels
Curve Dao Token price is expected to face resistance from the $0.400 and $0.720 levels. The imaginary support level would be $0.200 and $0.100 marks.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
