CRV price prediction is bullish for 2024 and suggests that a bull run in the CRV crypto has just begun. The buyers are active and it seems that the time for a bullish trend reversal has arrived.
Curve DAO Token price is in a recovery phase and displayed a double bottom pattern in the daily time frame chart. It also gave a breakout of the neckline hurdle at $0.5500 and continues to rise upward by forming higher high candles.
CRV crypto price sustains above the 50-day EMA which confirms the short-term bullish trend reversal.
At present, buyers are attempting to break out of the 200-day EMA to push the price to the three-month high. However, the CRV price lacked momentum and witnessed minor profit booking in the previous session.
Curve DAO Token price had performed well in the past few weeks and recovered approx. 50% in the short period. So, the price may consolidate for some time for the base formation.
The buyers are still active at lower levels and the price will gain momentum back soon.
CRV price is trading at $0.5872 with an intraday rise of 2.03%. The 24-hour volume to market cap is 15.92%.
Is the Double Bottom in CRV Price Reliable?
CRV price prediction suggests the rally will continue and more upward momentum is possible. The recent upmove in the CRV crypto looks reliable so the price is likely to sustain higher levels.
The major resistance for the bulls is $0.7364 if buyers succeed in breaking the hurdle then a sharp toward $1.00 is possible.
Till the Curve DAO Token price holds the $0.5000 support, the possibility of the breakout will remain high. On the other hand, if the price faces rejection from $0.7364 then it might retrace down to the 50-day EMA.
Will Curve DAO Token Price Consolidate?
Curve DAO Token price rose for four consecutive weeks and turned bullish on the weekly chart. Meanwhile, the crypto market leader BTC and ETH price is also performing well which indirectly affects the CRV price.
The MACD curve is sloping sideways and seems to be losing momentum. It indicates CRV crypto has rallied a lot so the price may consolidate for a few weeks before heading upward. The RSI at 60 reversed down from the overbought territory also denotes the same.
Conclusion
CRV price prediction is bullish for December as well as for the next year. The recent recovery in the CRV crypto looks reliable and seems to be supported by genuine buying. Therefore, investors may look to buy Curve DAO Token to generate a nominal return.
Technical Levels
- Resistance levels: $0.7364 and $0.8730
- Support levels: $0.5158 and $0.3891
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/11/14/crv-price-prediction-curve-dao-token-price-formed-double-bottom/