Curve DAO Token Price Lifts Off 20%, Whales Accumulating at Lows

Curve DAO Token price gained nearly 20% in less than the past two weeks. The price witnessed a hike after a consolidation near the lows. Currently, the price struggles to surpass the 50-day EMA, the breakout of which could take the price to a high of $0.63.

The price hike in Curve DAO is supported by a massive volume rise of over 95%; indicating the participation of whales in the game. The volume-to-market cap ratio of the CRV token is 20.17% indicating high volume being circulated in the market.

Moreover, the data from several websites confirm that whales are actively participating in Curve DAO Token. Some of them are dumping off the old holdings and some new whales are aggressively accumulating the CRV token.

The data as observed from the “spotonchain” website illustrates that a fresh whale with address “0xDf1” accumulated a total of 9.27 Million $CRV from Binance at $0.47 worth $4.39 Million between September 21 and September 22. The price of CRV tokens has gained 10% since the accumulation of the whale. The whale “0xDf1” has a floating gain of more than $154K since accumulation.

Curve DAO Token Price Lifts Off 20%, Whales Accumulating at Lows

Curve DAO Token Price Struggles to Surpass 50-Day EMA

The Curve DAO Token price is currently trading at $0.478 with an increment of more than 5% in the last 24 hours. The CRV price has witnessed an optimistic breakout of the consolidation; indicating the continuation of the trend. The breakout is supported by a massive 95% hike in volume making it a genuine buy.

Also, the data from various sources confirm that the whales have accumulated the lows thus, causing the price to surge higher. The price currently waits near the 50-day EMA to gain more buying volume. Moreover, the price took support from the lower boundary of a parallel channel pattern and might surge till the upper boundary before the momentum breaks.

Technical Indicators Shows Optimistic Trend

MACD lines are showing a positive crossover. Also, histogram bars are formed above the mean line of increasing height, indicating the buyers regaining control in the game.

The EMA analysis shows that the CRV price currently trades near the 50-day EMA and has gained momentum. The buyers must surpass the 50-day EMA in order to continue with the momentum.

Conclusion

Curve DAO Token (CRV) price rose 20% in two weeks after breaking out of a consolidation near the lows. The price is supported by high volume and whale accumulation. A new whale bought 9.27 Million CRV from Binance at $0.47 and made a profit of $154K. The price is now trading at $0.478 and facing resistance from the 50-day EMA. The price is also following a parallel channel pattern and may reach the upper boundary before losing momentum.

Technical Levels

Support Levels: $0.426 and $0.39
Resistance Levels: $0.509 and $0.63

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 or stock comes with a risk of financial loss.