How Far Rising Curve Dao Coin May Reach In Coming Week?

A V-shaped recovery in Curve Dao coin price offsets the recent breakdown from the $0.534 monthly support. This fake breakdown scenario brought more buying orders into the market by forced liquidating the trapped short sellers. However, the ongoing rally may soon retest the four-month-long resistance trendline to replenish the bear momentum. Is it safe to hold?

Key points:

• A daily candle closing above the $0.535 level will accelerate the bullish momentum
• The trendline breakout is needed to establish a sustained uptrend.
• The intraday trading volume in the CRV token is $162 Million, indicating a 46% loss.

Source- Tradingview 

Under the influence of a downsloping trendline, the Curve Dao coin price has witnessed a steady downfall over the past four months. Furthermore, the several reversals from this dynamic resistance indicate the sellers are actively selling at this trendline.

Amid the FTX-crypto exchange crash, the CRV coin faced its last correction from the overhead trendline, leading a 6.68% fall to reach the $4 mark. However, the altcoin witnessed a sudden surge in buying pressure, which pushed the prices 82.4%. in the last three days.

This perpendicular growth sets a bullish upswing back to resistance trendline, offering a relief rally for the coin holders. Moreover, the rising price backed by reducing volume indicates the current bull run is temporary.

Anyhow, the Curve Dao price currently trades at $0.681 mark and breached a horizontal resistance of $0.534. This breakout should accelerate the bullish and prolong the ongoing recovery. Thus, with sustained buying, the altcoin should rise more than 30% to hit the overhead trendline. 

However, if the overall market remained bearish the Curve Dao coin price will have a high possibility for another reversal. 

Thus, the sidelined buyers waiting for a long entry opportunity should surpass the resistance trendline.

Technical analysis

RSI: The daily-RSI slope jump above the neutral indicates the improving market sentiment.

EMAs: the downsloping crucial EMAs(20, 50, and 100) adventures an established downtrend anprovidees dynamic resistance against a bullish pullback.

 Curve Dao Coin Intraday level

• Spot price: $0.681
• Trend: Bearish ok
• Volatility: High
• Resistance levels- $0.8and  $1.02
• Support levels- $0.688 and $0.534