CRV Price Rolls Above $0.5000, Will it Strike $0.8000 by 2023
- 1 CRV token retrieved momentum and caught bullishness on the charts.
- 2 CRV token made a bullish engulfing candlestick in yesterday’s session.
Curve Dao (CRV token) CRV price is back, up from the bottom zone of $0.4000, forming a double bottom pattern. Buyers were gaining traction and retested the 200-day EMA mark but failed to sustain and are now pausing the gains near $0.5800 close to the 20-day EMA. CRV token is finally closer to the swing highs of $1.00.
Earlier this year, Curve Dao decentralized exchange lost more than $50 Million in a crypto hack triggering a sell-off of the CRV token. However, the chart shows volatility.
CRV price is forming a bullish chart setup and indicates the continuation of the rise, as the token will touch the 200-day EMA shortly. If the price scratches the mark of $0.7000, it will spike to the $0.8000 mark soon. Technicals favor the bulls. CRV token has absorbed the headwinds and is ready to experience bullishness soon.
The live price of the CRV token is $0.5816, with an intraday gain of 7.78%, showing a pullback on the charts. Trading volume increased by 10.14% to $69.76 Million, and the pair of CRV/BTC was at 0.0000155 BTC. The market cap of the Curve Dao token is $538.10 Million. Analysts maintained a neutral rating and suggested further volatile moves soon.
Will CRV Token Continue to Accelerate Gains?
On the daily chart, the Curve Dao token reveals a comeback, as buyers are accumulating and looking to lift the token toward the round mark of $1.00. Additionally, the CRV token underwent a selloff and is ready to reach a higher swing beyond the prompt hurdle of $0.700.
The RSI curve is above neutrality near 65, showing a bearish divergence. The MACD indicator shows a bearish crossover and red bars on the histogram, highlighting volatility.
Weekly Charts Shows Falling Wedge Pattern
On the weekly chart, the CRV token forms a falling wedge pattern, and the token is trading close to the upper trendline zone of $0.7500, close to the 50-day EMA mark. The token is trading close to the 38.2% Fibonacci zone, and buyers are trying to sustain above it to extend the rally.
Summary
Curve Dao token (CRV) has picked up momentum and is now accumulating gains above the 20-day EMA mark. Moreover, the token formed a falling wedge pattern; and if the token contrives to surpass $0.7500, it will ascend to the round mark of $1.000 soon.
Technical Levels
Support Levels: $0.5000 and $0.4000
Resistance Levels: $0.7500 and $1.0000
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.