Curve DAO Token (CRV) Price Inches Towards $1.0, Are You Expecting More Rally Above it?

• The Curve DAO token (CRV) is moving into the red zone of volatility.
• Investors are happy to see a rise of about 80 per cent in January.
• The bullish breakout forced the bears out of the market.

The Curve DAO token (CRV) performed better in the first two weeks of January. The dominance of the bulls kept the CRV price towards the ideological bullish levels. This continued uptrend, slapping the market sellers, hence, the bears have not attempted heavy selling in the market so far this month.

On January 13, the bulls successfully broke above a long-term descending trend line (bottom of the chart). This was a strong trend reversal signal for major breakout punters. As a result, investors are jubilant after witnessing nearly 80% gains in January, while the crypto price is approaching a significant rally.

At the time of writing, Curve DAO token (DAO) price is trading in the $0.946 area against USDT. The buyers are about to reach the $1.0 resistance level during a higher-low formation. Bitcoin’s valuation also emerged above $21K this week, therefore, CRV’s market capitalization has increased by 3.76% over the past 24 hours to $503 million.

The Curve DAO token (CRV) related to the bitcoin pair is up slightly by 1.63% at 0.00004411 satoshis. As of now, CRV is an important resistance at $1.0, conversely, the $0.760 to $0.70 zone will be the pumping zone if the price moves up further. Above the $1.0 resistance, the $1.55 level appears to be an important supply area.

On the daily price chart, buyers are promoting CRV price above all important moving averages like 20, 50, 100 and 200. Today, the bulls barely held the asset above the 200 DMA, a long term bullish breakout.

Generally, the RSI indicator has moved into the overbought zone.

Conclusion

The crypto market appears stable for short term investments. Meanwhile, the bearish curve of the RSI could present a selling opportunity for sellers if buyers fail to sustain Curve DAO (CRV) Token above the 200 DMA. As of now, the bulls must avoid the $1.0 resistance level to gain more momentum.

Support level – 0.760 and $0.50

Resistance level – $1.0 and $1.55

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 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.

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