Can CRV Crypto Display A Comeback?

Curve Dao Network crypto plummeted by 1.33% in market value and by 41.60% in trading volume in the last 24 hours, as per the Coinmarketcap, a crypto data analysis website. Its market value is $394,257,300 and its trading volume is $41,039,496. There are 854,667,428 CRV in circulation. 

Curve Dao coin’s (CRV) open interest is $68.79 Million. As per Coinglass, another crypto analysis website, it rose by 0.78% in the previous session. The long versus short ratio in Curve Dao crypto for 24 hours is 0.0.858. The total number of short positions added in the last 24 hours is $48.50 K against longs of $45.61K.

Curve Dao (CRV) has a fully diluted valuation (FDV) of $1,521,275,455. This is a hypothetical market cap, assuming all 3.3 Billion CRV tokens are circulating today. As per the information and data website Coingecko. However, reaching the actual FDV in Curve Dao may take years, depending on how the CRV tokens are distributed over time.

The Security update after the hack by Curvefinance states that:

•  The pools of Aleth, peth, mseth, and were attacked due to a flaw in vyper 0.2.15-0.3.0

•  The pool of arbitrum-tricrypto was exposed to the same vulnerability but no exploit was detected (still, it is safer to exit that pool)

•  The rest of the pools on Curve are secure.

Please note that you should withdraw from the arbitrum-tricrypto pool – the only remaining pool that could be affected by the compiler bug.

CRV coin price showed a downward trend from 2nd August around $2.53832231, falling by making lower lows and highs and breaching multiple in-between supports. 

At the time of publication, the Curve Daocrypto price is trading around the recent support at $0.44239397, and the price is facing selling pressure and is decreasing.

Therefore, the Curve Dao coin price could continue to move downward. If it fails to maintain the current level and reach the nearest support at $.44239396 and $0.31982468. 

However, if the CRV crypto price sustains the current level and increases, then it might hit the nearest resistance levels of $0.61943850 and $0.87479119.

CRV Crypto Price Technical Analysis in the 1-Day Timeframe

At the time of publishing, the CRV coin price (BITFINEX: CRV) is trading underneath or below the major EMA’s such as 20, 50, 100, and 200-day EMAs (exponential moving averages), which are rejecting the CRV crypto price trend. Hence, CRV crypto price prediction estimates the prices to move downwards, indicating a bearish outlook over the daily time frame chart for its price.

The MACD line at 0.05423607 and the signal line at 0.05013338 is below the zero line. Both lines crossed each other and a bearish crossover is observed in the MACD oscillator, suggesting bearish signals. The current value of the RSI is 22.13 points and the 14-day SMA is below the median line at 28.22 points, which indicates extreme bearish sentiments as RSI took rejection on the 14 SMA line and headed for the oversold zone in the market for the CRV coin and highlighting bearishness.

Conclusion

CRV coin price prediction highlights the bearish sentiments and perspectives of investors and traders regarding the CRV coin in the daily time frame. Curve Dao price action highlights a downward or bearish view at the time of publishing. Moreover, the technical parameters of the Curve Dao price suggest the continuation of the downtrend over the daily time frame chart. Major reliable and most sought indicators like RSI, MACD, and EMA, give negative or downward signals regarding the CRV coin price.

Technical Levels:

• Support levels: The nearest support levels are $.44239396 and $0.31982468.
• Resistance levels: The nearest resistance levels are $0.61943850 and $0.87479119.

Disclaimer

In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency 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.

Latest posts by Nancy J. Allen (see all)