This Resistance Breakout Sets Curve Dao Price For A 22% Jump

Published 51 mins ago

The Bitcoin price painted green today surged the major cryptocurrencies to higher ground. Thus, the Curve dao price responding to the improving market sentiment jumped 12.53% high on the intraday level. The massive bullish candle breached a weekly monthly resistance of the $0.983 mark, offering a long entry opportunity for traders.

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Key points:

  • A candle closing above the $0.983 mark would intensify bullish growth for a prolonged recovery
  • The 100-day EMA resistance tries to limit the price rally till the $1 psychological mark 
  • The intraday trading volume in the CRV token is $152.2 Million, indicating a 113.5% gain.

Curve dao price

Source-Tradingview 

The Curve dao price witnessed a steady downfall for the past three months, dropping from a $1.588 high to a low of $0.73. However, connecting this downtrend’s lower highs and lows, the daily chart revealed a falling wedge pattern.

In theory, this well-known bullish continuation replenished the buying momentum for significant growth. Thus amid the last week’s recovery in the crypto market, the Curve dao price gave a bullish breakout from the pattern’s resistance trendline.

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Thus, the post-retest rally surged the prices by 17.5%, and it currently trades at $1.14. 

In addition, this price rally reclaimed a strong local resistance of $0.983. The breached resistance should offer an extra edge for buyers to extend the bullish growth. Thus, with sustained buying, the price should rise 22% to hit the $1.243 resistance. 

On a contrary note, a breakdown below $0.983 will offset the bullish thesis.

Technical analysis

MACD indicator: the MACD and a signal line jumped above the neutral zone, indicating the market sentiment is improving for the curve dao token

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Bollinger band: the CRV price hit the indicator’s upper band suggesting the buying activity is aggressive in short time span Thus, the prices may consolidate above the $0.983 mark to stabilize the bullish rally

 Curve Dao Coin Intraday level

  • Spot price: $1.018
  • Trend: Bullish
  • Volatility: Low,
  • Resistance levels- $1.24 and $1.55
  • Support levels- $0.98 and $0.86

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From the past 5 years I working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. raech out to me at brian (at) coingape.com

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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