CRV Technical Analysis: The Next Growth Target Is $2.95
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The last 3 trading weeks have shown that the forces of sellers are not enough to regain control over the mark of $1.93. Given how the monthly candle has closed in the CRV market, everything is just beginning for buyers.
Technical Analysis of CRV on the Daily Timeframe
The trajectory of the CRV price is very similar to the trajectory of ETH, but with a slight delay. In our ETH analysis, we mentioned that it is after the confident closing of the price above the range of $2900-$3000 that we will see a new powerful growth impulse.
The nature of the ETH price fixing above the $2900-$3000 range is identical to the Curve price fixing above $1.93. The only difference is that the ETH market has already started its new growth wave, and CRV is still consolidating. Given the high probability of local correction of the BTC price, we assume another contact of the CRV price with the $1.93 mark. Though, this will not contradict our main scenario for continued growth with a local target of $2.95.
There is the liquidity zone at $2.95, which was the main support for CRV in May 2021. It was after breaking this range down, the investor saw a drawdown of their deposits by 50-60%. Given the uncorrected increase of the CRV price, the probability of a sharp correction beginning from the above mark is quite high.
The CRVBTC Price Is Getting Ready to Shoot Up by 70%
The CRVBTC chart adds a positive mood and confidence in the Curve market. As we can see in the weekly timeframe, the price is moving in a global triangle and is now near its lower limit. Strength to continue the fall from the current price is clearly not enough, and the price begins a local reversal. Therefore, if the situation in the cryptocurrency market does not change drastically - CRV is doomed to grow during September