CRV Price Analysis: Curve DAO Token slumps to immeasurable levels

•CRV/USD is currently priced at $0.74 and has decreased by 19.08% over the past day

•The trading volumes have increased by 65.21% over the past day

•Tye technical indicators suggest a hawkish outlook for the near term

Short Term View: Is there a way out for Curve DAO Token?

Source: CRV/USD by TradingView

The Curve DAO Token price today is $0.740125 USD with a 24-hour trading volume of $180,406,358 USD. Curve DAO Token is down 19.08% in the last 24 hours. The trading volumes have increased manifolds over the past day amid increased investor activity whereas the Volume to Market Cap Ratio stands at 0.4585 for the altcoin.

The past few weeks price movement has taken a toll on CRV as the bears have acted with disdain in the market. The bears have brought much misery to the investors and have escaped from the bulls’ grasp scot free. The Cruve DAO Token price has slumped below the 20,50 SMA on the four hour chart as a result, which could spell trouble for the investors in the near term. The bulls will have a tough time defending the $0.70 support level in the near term. On the flip side, the resistance for the altcoin is placed at $0.80 in the event of a flush of buyers in the market.

Long Term View for CRV

Source: CRV/USD by TradingView

The technical indicators for Curve DAO Token paint a grim picture for tge near term as the RSI has slipped to 37.38 and is fast descending towards the oversold territory. Moreover, a bearish crossover was witnessed on the daily chart yesterday, which has turned the histograms red as a result. The MACD and signal lines are also descending towards the negative territory as CRV struggles to come to terms with the bearish pressure.

Conclusion

The technical indicators for Curve DAO Token project a bleak outlook for the near term as the bulls seem to have wavered from their efforts and the bears have, in turn, taken full advantage of it.

Support: $0.70-$0.65

Resistance: $0.80-$0.85

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

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