CRV Technical Analysis: Buyers Attempt To Restart Uptrend At $1
Table of contents
Key Technical Points:
Past Performance of CRV
The Curve Dao (CRV) price action revealed a noteworthy increase in selling pressure last week, resulting in a 50% drop in the market value. The downtrend breaks below the expanding channel and the crucial supporting EMAs to test the psychological mark of $1.0. However, the buyers reclaim trend momentum at the $1.0 mark accounting for a 10% recovery rally over the past 48 hours.
Source - Tradingview
CRV Technical Analysis
The CRV price action displays a bullish reversal with morning star pattern formation at the psychological mark of $1. Furthermore, the spike in intraday trading volume supporting the bullish reversal increases the likelihood of an uptrend continuation. As the market price breaks below the 50 and 100-day EMAs, the downtrends in the crucial EMAs continue.
The RSI slope displays a bullish revolt as it reverses from the 30% boundary within the nearly oversold zone. Moreover, the bearish gap decreases between the fast and slow lines as the bearish histogram show a reversing trend. Hence, the momentum indicators reflect a decrease in the bearish trend momentum.
In a nutshell, the CRV technical analysis displays technical indicators going hand-in-hand with the bullish protection analysis.
Upcoming Trend
CRV prices can test the 100-day EMA at $1.40 if the uptrend exceeds the 50-day EMA at $1.20. However, a downtrend continuation below the $1 demand level can test the support level of $0.84.
Resistance Levels: $1.20 and $1.40
Support Levels: $1 and $0.84