Curve DAO Token Displays High Volatility

• CRV price shows high volatility as it marks a rise of more than 5% intraday.
• The price action took a turn after a drop of about 5% in the previous session.

Curve DAO token price showed high volatility – a sweeping arm movement of 5% was observed within a few days. The present price rise can set the token in a bullish trend, defying the attempt by bears to capture the market. The previous candle tries to establish a bearish momentum and create selling pressure, whereas the present rise tries for the opposite. Present CRV price action could be temporary but confirmed only after a solid momentum. 

The Monoscope

Source: CRV/USDT by TradingView

CRV price action is bullish after taking support at $0.920. The trend was amplified when the price broke the resistance near $1.015, making it a strong asset. The rising price can encounter resistance near $1.155 and reverse from there. The current price action is above the EMA ribbon, setting a bullish outlook for the Curve DAO token.

The volatility in CRV price made the Bollinger Bands diverge wide. On the other hand, the trading volume shows stagnation when compared to the price action. The slightly rising OBV sets a premise of a favorable market and hints at an approaching uptrend. 

Source: CRV/USDT by TradingView

As per Super Trends, CRV price is on an uptrend after a sideways bearish trend. The CCI continues to display a bullish gap between the present and its historical prices. The MACD diverges under the bullish influence and records buyer action, suggesting buyer dominance. The RSI, after dropping due to the dip, rises back again to reflect increasing buyer interest. 

The Microscope

Source: CRV/USDT by TradingView

On the more petite time frame, CRV price steps up under a bullish trend. The Super Trends show a consistent bullish momentum not breached by the recent dip. The CCI rises to create a positive gap between the current price of Curve DAO token and its historical prices. The MACD moves closer to convergence and ends seller participation. The RSI moves about the half line to suggest a neutral market. 

Conclusion

Curve DAO token’s price action reflects a rapidly moving market struggling to establish dominance. The rising CRV Price can face resistance near $ 1.105 and retrace to previous levels. The volatile movement can be observed until the bulls set a strong dominance.

Technical levels

Support levels: $1.015 and $0.920

Resistance levels: $1.105 and $1.255

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss. 

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