Curve Dao’s price has seen a small recovery over the past 48 hours. However, it is still trading within a bearish zone after locating support above the $0.75 level for the past two weeks.
CRV suffered a setback in the past few months but it has joined other altcoins in the latest recovery race Today’s price movement looks a bit slow as it dropped by 0.25% over the past hours.
The buyers are still aiming for more gains but it seems the demand level is low right now. If more buying volume flows into the market, we can expect the price to keep rising by the day.
While the $1 mark level remains a key pivot level for a potential breakup, the close resistance levels to watch for a test lie at $0.9 and $0.98. The price is likely to see a rejection at these minor levels. And if that happens, the cryptocurrency could initiate another fresh decline towards the $0.55 level in the future.
Meanwhile, these resistance levels coincide with the descending trendline forming on the daily chart. A surge through this trendline could facilitate an increase above the mark level. This should technically bring the bulls back into the market.
If we consider the price actions from a mid-term perspective, CRV is still looking bullish. However, the existing bearish trajectory is reaching an exhaustion point from the short-term perspective. Despite the multi-month decline, the price is still up by 20% in the last 180 days.
CRV’s Key Levels To Watch
CRV has been supported by the $0.76 level in the last two weeks. If that level fails to hold in the future, the potential supports to keep an eye on are the $0.64 and $0.57 levels.
Following the latest gains over the past hours, the next resistance level to consider above the mark level are $1.07 and $1.157.
Key Resistance Levels: $0.9, $0.981, $1.07
Key Support Levels: $0.76, $0.64, $0.57
- Spot Price: $0.85
- Trend: Bearish
- Volatility: Low
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.
Image Source: aleksandrrr/123RF // Image Effects by Colorcinch
