CRV Technical Analysis: Should You Buy Before Prices Cross $1.50?

The Curve Dao(CRV) prices break the 100-day SMA in hopes to cross above $1.50. Will the uptrend be successful to start a bull run above $1.50? Key technical points: 

• The CRV prices jumped by 8.14% in the last 24 hours.
• The market value of Curve Dao breaks above the 100-day SMA.
• The 24-hour trading volume of Curve Dao is $409 Million, indicating a hike of 38%.

Past Performance of CRV

As mentioned in our previous analysis, the Symmetrical triangle Breakout rally drives the Curve Dao(CRV) higher above the 100-day SMA. Additionally, the bullish reversal from the $0.55 mark responsible for the bullish breakout of the triangle pattern, accounts for a 144 % jump in the last month. The ongoing bull run challenges the psychological mark of $1.50 in an attempt to reach the $2 mark.

Source- Tradingview

CRV Technical Analysis 

The daily candle in the CRV price chart shows the higher price rejection due to the increased selling pressure above $1.50. Hence, traders hoping to find a bullish trend continuation must wait for a price action confirmation to avoid any traps. The RSI indicator shows a solid underlying bullishness as the RSI slope sustains a sideways trend in the nearly overbought zone. Furthermore, the 14-day SMA provides bullish support and avoids any major downfall. With an ongoing uptrend in the bullish histograms, the MACD indicator displays a positive trend in the fast and slow lines. Hence the technical indicator project a high likelihood of an uptrend continuation In a nutshell, the CRV technical analysis shows symbiosis between the price action analysis and technical indicators promoting the breakout theory of $1.50.

Upcoming Trend

If the supply dump above $1.50 knocks the CRV market value below the 100-day SMA, a downtrend continuation to the psychological mark of $1 seems inevitable. However, the bullish breakout of $1.50 will unleash the trapped bullish Momentum resulting in a price jump to the $2 mark. Resistance Levels: $1.50 and $2 Support Levels: $1.20 and $1

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