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Curve DAO price prediction suggests a rise in the long run. - 2
CRV price faced rejection from the 200-day EMA showing a downtrend. - 3
Curve DAO Token price is trading near the demand zone.
Curve DAO price prediction remains bullish till it holds $0.485 support. It suggests a rise in the long run. However, for the short-term CRV price seems to be in a bearish grip and buyers are trying their best to rebound.
Curve DAO price is trading below the 200-day EMA and 50-day EMA showcasing that the positional trend is down. However, the current price has gone far away from the EMAs so short-term pullback is possible.
At the beginning of August, CRV crypto witnessed a massive spike in buying volume but prices reacted negatively. It indicates that the speculators are active.
CRV crypto price attempted to break the $0.500 support. But luckily some responsive buyers came forward and pushed the prices higher.
It formed a long-tail bullish hammer candle which created hope for the trend reversal. However, prices did not recover well and got stuck into the narrow range of consolidation.
Curve DAO price is trading at $0.601 with an intraday decline of 1.31%. The 24-hour volume to market cap is 18.49%.
Will Curve DAO Price take a U-turn from the Demand zone?
Curve DAO price prediction suggests a significant rise is possible in the coming months. CRV price is near to the crucial support so the downside seems to be limited.
Till the CRV price holds the $0.500 support the possibility of a bounce remains high. However, the price will gain momentum when buyers will break out of the 200-day EMA.
Sellers are active in the supply zone CRV price. So it’s going to be difficult for the buyers to test the July month highs. The technical analysis suggests CRV price is expected to consolidate in a wide range.
CRV Price formed Doji candle
CRV price formed a Doji candle in the previous week indicating indecisiveness. The crypto market Bitcoin price struggles to hold the $29K mark. If BTC price drops below the $29K then it might negatively impact the prices of other Altcoins.
The MACD curve slopes sideways and might generate a positive crossover. The RSI at 36 slopes down denotes weakness but near the oversold territory due to that short-term bounce is possible.
Conclusion
Curve DAO price prediction is bullish till it holds the demand zone. The technical analysis suggests, a short-term pullback is possible in CRV crypto but testing the July month high is difficult.
Technical levels
- Resistance levels: $0.800 and $0.882
- Support levels: $0.500 and $0.485
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.
Source: https://www.thecoinrepublic.com/2023/08/11/curve-dao-price-prediction-will-crv-price-test-the-july-highs/