This Resistance Breakout Sets Curve Dao Price For A 22% Jump
The Bitcoin price painted green today surged the major cryptocurrencies to higher ground. Thus, the Curve dao price responding to the improving market sentiment jumped 12.53% high on the intraday level. The massive bullish candle breached a weekly monthly resistance of the $0.983 mark, offering a long entry opportunity for traders.
Key points:
- A candle closing above the $0.983 mark would intensify bullish growth for a prolonged recovery
- The 100-day EMA resistance tries to limit the price rally till the $1 psychological mark
- The intraday trading volume in the CRV token is $152.2 Million, indicating a 113.5% gain.
Source-Tradingview
The Curve dao price witnessed a steady downfall for the past three months, dropping from a $1.588 high to a low of $0.73. However, connecting this downtrend’s lower highs and lows, the daily chart revealed a falling wedge pattern.
In theory, this well-known bullish continuation replenished the buying momentum for significant growth. Thus amid the last week’s recovery in the crypto market, the Curve dao price gave a bullish breakout from the pattern’s resistance trendline.
Thus, the post-retest rally surged the prices by 17.5%, and it currently trades at $1.14.
In addition, this price rally reclaimed a strong local resistance of $0.983. The breached resistance should offer an extra edge for buyers to extend the bullish growth. Thus, with sustained buying, the price should rise 22% to hit the $1.243 resistance.
On a contrary note, a breakdown below $0.983 will offset the bullish thesis.
Technical analysis
MACD indicator: the MACD and a signal line jumped above the neutral zone, indicating the market sentiment is improving for the curve dao token
Bollinger band: the CRV price hit the indicator’s upper band suggesting the buying activity is aggressive in short time span Thus, the prices may consolidate above the $0.983 mark to stabilize the bullish rally
Curve Dao Coin Intraday level
- Spot price: $1.018
- Trend: Bullish
- Volatility: Low,
- Resistance levels- $1.24 and $1.55
- Support levels- $0.98 and $0.86
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