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Vikram
May 4, 2022
by Vikram

CRV Technical Analysis: Back From $2, Rally Eyes 30% Jump

CRV
CRV prices show a bullish reversal as buyers refuse a market price below $2, undermining the fallout and preparing a fresh bull run.

Key technical points:

  • CRV prices show an overnight growth of 9.02%.

  • The 50-day EMA is the next resistance to bullish development.

  • The 24-hour trading volume of Curve DAO is $208 Million, marking a 34% rise. 

    • Past Performance of CRV

    CRV token price shows a sharp V-Shaped reversal from under the psychological barrier of $2, resulting in multiple bullish candles. The bullish rally accounts for a jump of 15% last week and undermines the bearish engulfing candle, which broke the $2 mark.

    TradingView Chart

    CRV Technical Analysis 

    The CRV/USD chart shows a gradual growth in trading volume, reflecting a rise in buying pressure and increasing the chances of a prolonged bull run.

    The crucial daily EMAs showcase a bearish alignment with the downtrend, gradually gaining momentum while providing dynamic resistance. However, the bullish reversal challenges the 50-day EMA, while the 100-day EMA has a history of delivering dynamic resistance.

    The RSI slope indicates a parabolic reversal in the nearly oversold area and approaches the halfway line. In addition, it shows an upward trend affected by that 14-day SMA and displays the increasing bullish momentum.

    The MACD and signal lines show a sideways trend in the negative territory as the bearish spread decreases, teasing a bullish crossover. Hence, buyers can shortly find an entry signal.

    In short, the CRV technical analysis displays a bullish continuation possibility above the 100-day EMA.

    Upcoming Trend 

    CRV coin price experiences a surge in underlying bullishness and projects a high likelihood of reaching $3 as the buying pressure grows. Hence, traders can find entry opportunities at the current market price with a stop loss below the psychological mark.

    Resistance Levels: $2.50 and $3

    Support Levels: $2.0 and $1.80

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    CRV Curve DAO
    CRV Technical Analysis: Back From $2, Rally Eyes 30% Jump
    Vikram
    Vikram is a technical analyst with several years of experience in the crypto market & Indian Equity and F&O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

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