Will CRV Crypto Price Reclaim $1 Upper Level?

The Curve DAO Token (CRV) is the official token of the Curve Finance protocol.

It is used to reward liquidity providers on the Curve platform along with engaging more users in the governance of the protocol. CRV is used for voting, staking and boosting. 

By locking CRV, users can gain voting power and earn a boost of up to 2.5x on the liquidity they provide. 

CRV holders can stake their CRV to receive trading fees from the Curve protocol and 50% of the trading fees are distributed to veCRV holdersThe max supply of CRV is 3.03 Billion and it is distributed to community liquidity providers, shareholders, employees and the community reserve. 

CRV had a circulation of 0 when it was launched on August 13, 2020.Users can use scripts to initiate the burn process to convert trading fees into 3CRV and distribute them to veCRV holders.

In summary, Curve Finance is an automated market maker protocol designed to facilitate the swapping of tokens that have a relatively similar price range, with low fees and slippage. 

It is a decentralized liquidity aggregator where anyone can add their assets to several different liquidity pools and earn fees. The pricing model used by Curve Dao is designed to minimize the volatility of different cryptocurrencies.

CRV Price Analysis In 1-D Timeframe.

The CRV crypto is trading at $0.5973900 with a 0.35% decrease in the last 24 hours. 

If the buyers maintain the pressure, the Curve Dao price could surge from the current level. The next target for the CRV price is $0.700000. 

The CRV crypto is geared for a spectacular rise ahead, as it accumulates strength to pierce through the obstacles and elevate to new altitudes from the current base zone

However, if the Curve Dao crypto price fails to stay above the $0.500000 level, it could decline further.

The CRV price is higher than the 20-day and 50-day exponential moving averages. This shows that the EMAs are providing strong support for the Curve Dao price, as they are following the price and stopping it from falling lower. Therefore, the CRV price trend is positive and rising.

Summary

The CRV crypto is geared for a spectacular rise ahead, as it accumulates strength to pierce through the obstacles and rise to new altitudes from the current base zone. Moreover, If the buyers maintain the pressure, the CRV price could surge from the current level. The next target for the Curve Dao price is $0.700000. 

Technical Levels

Support Levels: $0.500000

Resistance Levels: $0.700000

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.

Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.