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Vikram
Apr 23, 2022
by Vikram

CRV Technical Analysis: Bullish Flag Soon To KnockDown $2.5 Mark

CRV
CRV coin price shows a consolidation phase below the $2.5 mark, as buyers prepare a launch above the resistance to reach $3.

Key technical points:

  • CRV prices struggle to surpass the $2.5 mark.

  • The 100 and 50-day EMAs prepare for a bullish crossover.

  • The 24-hour trading volume of Curve DAO is $473 Million, marking a 150% rise. 

    • Past Performance of CRV

    The bear cycle started at the $3 mark and sank the CRV coin price by 28.5% to reach the $2.1 support. On the 22nd of April, the price of the CRV experienced an enormous inflow, leading to an increase of 14%. The green candle that has been long-running has been covered for the past two weeks, releasing the bullish momentum held in place.

    TradingView Chart

    CRV Technical Analysis 

    The CRV token recovered after a dip to its $2.7 mark to support levels in response to the symmetrical triangle pattern. The new bull trend is accelerating towards overhead resistance, which is approximately the $2.74 mark. However, interested traders must wait for the breakout of the trendline to confirm a bull uptrend.

    Additionally, the bullish rise exceeds even the 50-day EMA and climbs higher towards the 100-day EMA, and then falls dramatically when it crosses below the 200-day EMA. Therefore, the current trend could eventually reach the 100-day EMA at some point.

    RSI Indicator: The daily RSI slope approaches the overbought boundary after surpassing the halfway mark and the 14-day average, rising on April 22nd. However, the consolidation keeps the slope trapped in the nearly overbought zone.

    MACD Indicator: The MACD and signal lines continue the uptrend after the bullish crossover, reflecting the underlying bullish momentum growth. Hence, the indicator forecasts a potential uptrend above the $2.5 mark.

    In a nutshell, the CRV technical analysis shows a potential rise above the $2.5 mark.

    Upcoming Trend 

    CRV coin price projects a sideways trend after a bull run reaching the $2.5 mark and shows lower price rejection indicating a potential rise above the resistance. Hence, traders can shortly find a breakout entry opportunity as the price surpasses the $2.5 mark with a target of $2.78.

    Resistance Levels: $2.5 and $2.78

    Support Levels: $2.40 and $2.15

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    CRV Curve DAO
    CRV Technical Analysis: Bullish Flag Soon To KnockDown $2.5 Mark
    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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