How Far The Rising Curve Dao Coin Price May Reach In Coming Week

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CRV Short Squeeze: Here’s Why Curve DAO Token Price Shooting Up

A V-shaped recovery in Curve Dao coin price offsets the recent breakdown from the $0.534 monthly support. This fake breakdown scenario brought more buying orders into the market by forced liquidating the trapped short sellers. However, the ongoing rally may soon retest the four-month long resistance trendline to replenish the bear momentum

Key points:

  • A daily candle closing above the $0.535 level will accelerate the bullish momentum
  • The trendline breakout is needed to establish a sustained uptrend.
  • The intraday trading volume in the CRV token is $629.5 Million, indicating a 1000.5% gain.

 

Source- Tradingview 

Under the influence of a downsloping trendline, the Curve Dao coin price has witnessed a steady downfall over the past four months. The several reversals from this dynamic resistance indicates the sellers are actively selling at this trendline.

Amid the FTX-crypto exchange crash, the CRV coin faced its last correction from the overhead trendline, leading a 6.68% fall to reach the $4 mark. However, the altcoin witnessed a sudden surge in buying pressure, which pushed the prices 82.4%. in the last three days.

This perpendicular growth sets a bullish upswing back to resistance trendline, offering a relief rally for the coin holders. Moreover, the rising price backed by reducing volume indicates the current bull run is temporary.

Anyhow, the Curve Dao price currently trades at $0.681 mark and breached a horizontal resistance of $0.534. This breakout should accelerate the bullish and prolong the ongoing recovery. Thus, with sustained buying, the coin price should rise more than 30% to hit the overhead trendline. 

However, if the overall market remained bearish the Curve Dao coin price will have a high possibility for another reversal. 

Thus, the sidelined buyers waiting for a long entry opportunity should surpass the resistance trendline.

Technical analysis

RSI: The daily-RSI slope jump above the neutral indicates the improving market sentiment.

EMAs: the downsloping crucial EMAs(20, 50, and 100) adventures an established downtrend and provides dynamic resistance against a bullish pullback.

 Curve Dao Coin Intraday level

  • Spot price: $0.681
  • Trend: Bearish ok
  • Volatility: High
  • Resistance levels- $0.8and  $1.02
  • Support levels- $0.688 and $0.534

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