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Cryptoknowmics 2022-07-08 08:18:14

CRV Technical Analysis: Trendline Keeps CRV Prices At A Needle-Point

CRV price jumps more than 50% last week to reach the resistance trendline of the falling wedge pattern, increasing the likelihood of a breakout. Key technical points: CRV prices have jumped by 8.41% in the last 24 hours. The price action shows the bull cycle challenging the resistance trendline. The 24-hour trading volume of Curve Dao is $168 Million, indicating a drop of 8.01%. Past Performance of CRV Starting the bullish journey from $0.55 the CRV market price has increased dramatically over the past month. The price action shows a rounding bottom pattern break out with the neckline at $0.84. The Breakout rally reaches the overhead resistance trendline of the falling wedge pattern formed in the daily chart. Source- Tradingview CRV Technical Analysis With a price of 50% over the last week, bearishness in today’s candle brings the market price drop by 2.25%. The rejection comes from the resistance trendline and increases the likelihood of a bearish continuation within the price pattern. If the bearish rally within the price pattern gains momentum we can see a drop in market price by 18% to test the bottom support at $0.84 in the next week. Supporting the price action analysis, the MACD and RSI indicators display an increase in the underlying bullishness which increases the likelihood of a bullish breakout. However, the volume indicator showcases a decrease in trading volume during the Bull Run which projects a higher likelihoo...

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