Curve DAO (CRV) and UMA Technical Analysis: What to Expect?
Table of contents
Curve DAO (CRV)
This is a DEX protocol for stablecoins using AMM for liquidity. CRV is the platform's governance token.
Past Performance of CRV
CRV/USDT prices are pretty much mirroring the performance of ETH.
After temporary hesitation on the last few days, Curve DAO technical analysis shows that prices pushed higher on August 5, steering away from last week's highs.
At press time, CRV DAO token is up five percent against the USD, motoring above the middle BB.
Day-Ahead and what to Expect
The technical candlestick arrangement of CRV favors bulls.
From the daily chart, there is a clear trend continuation building on late July 2021 gains.
Accordingly, the odds of CRV coin printing higher as it bottoms up in a W-formation remain high.
CRV/USDT Technical analysis
From the daily chart, the middle BB is the immediate support line as per CRV technical analysis.
Following expansions of August 5, every low is technically a loading opportunity for risk-off traders aiming at $2 in the short term.
Note that Curve DAO crypto prices are firm, likely to band along the upper BB pointing to high momentum and volatility—fuel for optimistic bulls.
UMA Protocol
The platform enables the creation of synthetic assets based on Ethereum. UMA is central to its operations.
Past Performance of UMA
As evident in the daily chart, UMA prices are galloping higher, trading within a bullish breakout pattern above the middle BB.
Besides, there is an uptick in trading volumes pointing to high participation levels, and general confidence as UMA clears resistance lines.
Presently, the UMA coin is stable against the greenback.
Day-Ahead and what to Expect
The uptrend is clear, and buyers appear in control.
Accordingly, as UMA price prediction shows, prices are likely to breach $11 and July 2021 highs, bottoming up after steep losses of May and June.
The anchor of this uptrend will be the double bottoms of June and July, sparking the wave of demand, explaining the upswing in trading levels.
UMA/USDT Technical Analysis
Although the August 5 bar had a long upper wick suggesting sell-off in lower time frames, the uptrend is firm.
Accordingly, traders may find loading opportunities in smaller time frames, targeting $11 in the short term.
Cementing this view is the sharp rebound from the middle BB, confirming the level as a reliable buying zone. Losses below $8 could deflate the buying momentum.