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Cryptoknowmics 2022-07-02 20:41:36

CRV Technical Analysis: Recovery CRV Prices Prepare A 30% Jump

CRV price action showcases a rise in bullish trend momentum under the $1 mark increasing the 20-day EMA breakout possibility. Key technical points: The CRV price action shows a daily candle attempting to cross above the 20-day EMA. The price action shows a high likelihood of a price jump to $1. The 24-hour trading volume of Curve Dao Token is $125 Million, indicating a rise of 25%. Past Performance of CRV The long-term trend of CRV’s downtrend price has reversed to $0.55 to contest the resistance from the 20-day EMA. The bearish trend has led to an 80% drop in the market price of CRV from $2.6 to the lowest of $0.54 in two months. However, buyers try to get back into the trend and test this 20-day EMA. Source- Tradingview CRV Technical Analysis The downward trend in the CRV price action creates a resistance trendline on the daily technical chart. However, the latest bullish movement starting at the $0.70 mark is against the 20-day EMA and the resistance level at $0.85. Therefore, a bullish breakout of the $0.85 mark may trigger an actual recovery rally. The active opposition from the 20-day EMA is a significantly bearish factor, keeping the growing bullish trend contained for most of 2022. Thus, traders may see the EMA breakout triggers a dramatic price increase. The DI lines display a growing upward trend as the lines have a shrinking spread of bearishness to regain the bullish alignment. Therefore, the DMI indicator could so...

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