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Cryptoknowmics 2022-08-23 12:45:09

CRV Technical Analysis: Buyers Attempt To Restart Uptrend At $1

The CRV prices break below the expanding channel, dropping to $1 but showing a bullish reversal and teasing an uptrend to $1.40. Key Technical Points: The Curve Dao market price dropped by 50% last week to take support at the $1 mark. The buyers reclaim trend momentum at the $1 mark resulting in a 10% reversal. With a market cap of $585 million, the intraday trading volume of Curve Dao has increased by 63% to reach $199 million. Past Performance of CRV The Curve Dao (CRV) price action revealed a noteworthy increase in selling pressure last week, resulting in a 50% drop in the market value. The downtrend breaks below the expanding channel and the crucial supporting EMAs to test the psychological mark of $1.0. However, the buyers reclaim trend momentum at the $1.0 mark accounting for a 10% recovery rally over the past 48 hours. Source – Tradingview CRV Technical Analysis The CRV price action displays a bullish reversal with morning star pattern formation at the psychological mark of $1. Furthermore, the spike in intraday trading volume supporting the bullish reversal increases the likelihood of an uptrend continuation. As the market price breaks below the 50 and 100-day EMAs, the downtrends in the crucial EMAs continue. The RSI slope displays a bullish revolt as it reverses from the 30% boundary within the nearly oversold zone. Moreover, the bearish gap decreases between the fast and slow lines as the bearish histogram show a re...

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