- Shiba Inu has recently flipped CRV Dao as most traded tokens among ETH whales
- Technical indicators of CRV are favouring consolidated trend. Its BTC pair has seen a gain of 4% in the intraday session
Curve Dao is one of the largest DEX of the stablecoins and uses AMM to manage their liquidity. It was launched in 2020 and has seen a strong growth since. The founder and CEO of Curve is Michael who is a scientist and has a lot of varied experience. Curve has gain a lot of attention from the whales for its stablecoin DEX. They are also ready to launch their own stablecoin.The total supply of Curve is around 3.03 Billion in which 21% is currently circulating in the market.It has seen a drop of over 98% from its all time high.Various analysts are expecting a strong growth in the future.It may see a move to $1.5 in near future.
Curve Dao has a market cap of $768 Million and is ranked 60th in the cryptoverse.Volume of the CRV has seen a spike of over 85%. Volume to market cap ratio of CRV suggests a consolidated trend.
Bulls Of CRV On A Rage
The weekly technical chart of the CRV suggests a consolidated trend in price. On the daily chart it is trading near $1.1 with a gain of 2%, It is doing a U shape recovery and can move to a new high. Resistance of CRV can be seen near $1.5. Meanwhile a support in the price can be observed near $0.8.It is trading above 50 and 100 Daily Moving Average. It can see a positive crossover and can move to a new high in the future.
RSI:RSI of CRV suggests a consolidated momentum in price.It is near 85 suggesting its presence in the overbought zone.
Conclusion
CRV is currently seeing a recovery with a rise in Bitcoin. It can observe a strong momentum in the near future.
Technical Levels
Major Support:$0.8
Major Resistance:$1.5
Source: https://www.thecoinrepublic.com/2023/01/23/curve-dao-price-prediction-will-crv-token-hit-5-till-the-end-of-2023/