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While the broader market sentiment struggles with uncertainty, the Curve Dao coin price managed to hold above the $0.871 local support for the last three weeks. On March 3rd, the coin price rebounded from the aforementioned support with a bullish tweezer bottom candle indicating the buyers are accumulating at a higher rate. This price reversal also marked the $0.87 mark as a new higher low level, showcasing an early sign of potential recovery.
Key Points:
- In the daily time frame chart, the CRV price shows an early sign of a bullish chart pattern candle ascending triangle.
- The flattish 100-and-200-day EMA reflects an overall sideways trend.
- The intraday trading volume in the CRV token is $71 Million, indicating a 61% gain.
Source- Tradingview
In the last two days, the CRV price surged 12% from $0.87 support and reached the current price of $0.996 mark. With sustained buying, the coin price will surge another 5% to challenge the monthly resistance of $1.047.
This above-mentioned resistance has rejected the buyers’ attempt to climb higher prices three times since the month, indicating a high supply zone. Thus, traders must remain cautious about this resistance as they may witness heavy selling pressure around it.
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However, connecting the last two swing lows, the daily chart shows the formation of a new ascending trendline. This rising support may offer buyers a dynamic footing which may assist them to surpass the $1.047 barrier.
A bullish breakout from the $1.047 resistance signals the resumption of the bullish trendline and may drive the CRV price by 10% to reach the $1.159 mark.
Technical Indicator
RSI: The daily RSI slope surpasses the last swing high peak as it rises high in the bullish territory indicating sustained growth in CRV price. This uptrend indicator gives additional confirmation for buyers to reclaim the $1.047 barrier.
Bollinger band: the upper band of the Bollinger band indicator wobbling around the $1.047 mark strengthens the resistance power of this level projecting the coin holders may witness prolonged consolidation.
Curve Dao Coin Intraday Level
- Spot price: $1.002
- Trend: Bullish
- Volatility: Low,
- Resistance levels- $1.047 and $1.16
- Support levels- $0.889 and $0.8
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