The Curve Community Fund will create several CRV vests to support four subDAOs: Curve Research, Curve Risk, Curve Analytics, and Dev Tools. These subDAOs will work on different aspects of Curve development and innovation. The proposal plans to distribute 30 Million CRV tokens for two years among the subDAOs.
Curve DAO rose 2.95% in market value and 4.29% in trading volume in the last 24 hours, as per CoinMarketCap which is a crypto data website. Its market value is $380,726,864 and its trading volume is $30,657,141. There are 877,596,819 CRV in circulation.
Technical Analysis of CRV on 1-D Timeframe
The Curve DAO price has been on a downtrend for the last 52 weeks, losing 58.66% of its value. The price makes lower peaks and valleys, indicating a downtrend.
The Curve DAO price is now at $0.43406 and facing a downward trendline. The price is also under the 20 and 50-day EMAs, which have more resistance levels.
The Curve DAO price could bounce back if it breaks above the downward trendline and the EMAs. Then, the next probable resistance levels could be $0.4899 and $0.5592, based on the previous highs and lows.
Curve DAO price could drop further and continue the usual trend of rising small and selling big if it fails to break the current resistance and keeps falling. The next support levels could become $0.4251 and $0.3954.
At the time of publishing, the Curve DAO price (CRV) is trading below the 20, and 50-day EMAs (exponential moving averages), rejecting the CRV price trend.
The MACD line at 0.0254 and the signal line at 0.0308 are below the zero line and both lines crossed each other multiple times but the histogram gap is lean in the MACD oscillator, highlighting traits of lack of momentum in the CRV crypto’s market.
The current value of the RSI is 39.67 points and the 14-day SMA is below the median line at 31.19 points indicating bearish sentiment. Collectively, the indicators view is consolidation to bearish.
Conclusion
The Curve DAO price prediction shows a neutral to bearish outlook from investors and traders in the daily time frame. CRV price action reveals a neutral to downward trend at the time of writing. Moreover, the daily chart shows the price trend is uncertain, as the technical indicators suggest. The RSI, EMA, and MACD are the most reliable and popular tools for analyzing the market. They indicate that the price may either stay in a range or continue to decline.
Technical Levels
- Support levels: $0.4251 and $0.3954
- Resistance levels: $0.4899 and $0.5592
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.
Source: https://www.thecoinrepublic.com/2023/09/16/curve-dao-price-forecast-2023-can-crv-price-skyrocket-to-1/