- Crypto Currency Tracker logo - Crypto Currency Tracker logo
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...

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.