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- Curve DAO Token price has lost around 40% this month.
- CRV price has taken support at the $0.275 mark, generating a bullish divergence in the RSI.
The CRV crypto price chart has displayed strong selling pressure since 2022 and recorded an all-time low of $0.219 on June 13, 2024. Since mid-March, the price has declined by 67% by forming lower lows and lower highs. After recording an all-time low, the CRV price climbed by 61% in a week and failed to exceed the 20-day EMA.
The Curve DAO Token price dropped to the previous support level, and the candlestick turned green at press time. Since September 2023, the sellers have struggled to break the major support level of $0.400. Finally, sellers dominated mid-June and triggered a breakdown from the $0.400 level, which has sustained below.
Curve DAO Token was trading at $0.282 with a slight gain of 1.24% in the past 24 hours at press time. The market capitalization and the fully diluted market cap are $406.16 Million. The 24-hour trading volume is $9.62 Million, which has increased by 47.48%.
RSI Analysis
The Relative Strength Index (RSI) is 32, and a death crossover with the RSI-based moving average is developed, heading toward the oversold zone. At the same time, RSI has generated a bullish divergence, which shows bulls’ interest.
Bull Run After Breakout?
$CRV 1W linear chart
— Whales_Crypto_Trading (@WHALES_CRYPTOx) June 28, 2024
Just look at this humongous Falling Wedge
650 Days of Accumulation!$CRV is currently trying to break out
Target 1 – $1.9
Target 2 – $3.0
Crypto Traders-join Telegram https://t.co/caOlZBzS3k
. pic.twitter.com/kLcuOrfLzg
A source on X claims that Curve DAO Token price has been in an accumulation phase for the past 2 years. The $CRV price has formed a falling wedge pattern on a weekly time frame. A breakout may lift the CRV price to the $1.90 and $3 levels as a target.
Will CRV Price Sustain Below Major Support Level or Rebound Soon?
The CRV crypto price has been highly bearish during the daily time frame and reached an all-time low. In mid-June, buyers tried to dominate sellers and pushed the price by more than 60% in a week.
However, sellers were too strong, and the price failed to advance the 20-day EMA. The digital asset price has faced resistance from the 20-day EMA and has declined by 25% in a week.
Buyers may show their involvement if the price takes support at the previous support level of $0.275. Suppose the trading volume increases during the reversal, intense buying pressure can be expected. The CRV price over the 20-day EMA might attract big players, resulting in a bullish trend in the long term.
On the other hand, if the buyers fail to bounce back and the price remains below the crucial level of $0.400, sellers might dominate further.
CRV Price Near All-time Low; Will It Keep Falling or Bounce Back Loading…
CRV price suggests it has been in a strong bearish trend, reaching an all-time low and facing significant selling pressure. The RSI has shown a bearish crossover and weakness, indicating the dominance of sellers in the market. However, there are indications of a potential bullish divergence in the RSI, suggesting possible interest from buyers. The price has experienced a slight gain in the past 24 hours, but the overall trend remains bearish.
Technical Levels
The Curve DAO Token price may face resistance from the $0.350 and $0.400 levels. It may take support at the $0.275 and $0.220 mark.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
