Curve DAO Token Price Analysis: Will CRV Retest $0.92 Level?


  • Curve DAO Token is presently valued at $0.66
  • The EMA(50) is currently at $0.97.
  • Curve DAO Token(CRV) records downward movement today.
  • First support level for Curve DAO Token is at $0.74.

07 December 2022 : In this article we will walk you through Curve DAO Token price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Curve DAO Token, Is CRV a good investment? Curve DAO Token support & resistance levels etc. But before diving deep into the CRV technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $840,936,795,081. The total trading volume stands at $38,794,158,111. Bitcoin shares 38.54 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $16,855.15 level after a decline of -0.75%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -1.84 percent reaching to $1,230.87 during the previous 24 hours.
While publishing this blog, BNB traded at $284.16, following a price change of -1.6%within the same time frame. XRP the native coin of XRP is down by -1.57 and currently trading at $0.38. Additionally, Dogecoin reached $0.096 after seeing a decline of -3.54% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Curve DAO Token Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Curve DAO Token (CRV)

CRV Resistance Levels CRV Support Levels
Resistance Level 1 $0.92 Support Level 1 $0.74
Resistance Level 2 $1.00 Support Level 2 $0.64
Resistance Level 3 $1.10 Support Level 3 $0.56

Curve DAO Token Performance

CRV has recorded a downtrend, losing -2.04% in last 24 hours. The current value of Curve DAO Token is hovering at $0.66 with the trading volume of $36,842,662.00 USD in the same timeframe. The overall marketcap for CRV is $348,496,710.00 USD while the coin price changes -2.25% over the week.

Curve DAO Token Price Analysis

CRV price analysis for 07 December 2022 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Curve DAO Token.

Moving Averages Price Indicator
Simple Moving Average (10) 0.84 Sell
Exponential Moving Average (10) 0.85 Sell
Simple Moving Average (20) 0.87 Sell
Exponential Moving Average (20) 0.87 Sell
Simple Moving Average (50) 0.98 Sell
Exponential Moving Average (50) 0.97 Sell

While CRV’s Williams %R indicator is at -22.076 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The MACD line is standing above of the signal line after a positive crossover. Curve DAO Token investors need to wait for any directional change over the daily chart. Curve DAO Token is moving in downward direction as bears successfully take the coin below immediate support level of $0.74. Now CRV should find a support at $0.64 or else the sellers could then target the crucial support level placed at $1.10. The Relative strength index (RSI) for CRV Coin is currently hovering at 45 for 14-days average line, which means CRV is in consolidation zone right now.

Conclusions

Curve DAO Token is now experiencing a significant bearish trend, this does not necessarily imply that the cryptocurrency is in any type of precarious situation that cannot be rectified. Even if the price is falling steadily, it is anticipated that the two support levels will serve as strong barriers and cause the trend line to rebound back into the positive zone.