The 20% intraday drop in Curve dao coin offers an excellent follow-up on yesterday’s downfall in the crypto market. In addition, the long red candle breached the $0.682 support, offering more ground in sellers’ control. Should you sell your CRV now or wait for price recovery?
In response to the ongoing bloodbath in the crypto market, the Curve Dao price turned down from the $1 psychological resistance with a massive red candle. However, It seems the major reason behind the market’s sharp sell-off is due to the FTX crypto exchange liquidity crisis and FUD surrounding it.
This downfall registered a 40% loss in the last two days and plunged the price to the $0.6 mark. Furthermore, the prices breached several support levels during the downfall, such as $0.86, $0.8, and, just recently, $0.682.
This breakdown offers additional resistance is sellers’ to pull the CRV price lower Moreover, a significant surge in volume during the price drop reflected a high momentum fall. Thus, with sustained selling, the Curve dao coin price tumble 8.75% down to revisit the 2022 button support of $0.561.
Nonetheless, crypto investors should keep a close eye on the possible price behavior at $0.561 as it will influence the near-term future.,
MACD indicator: a bearish crossover between the MACD and signal bolster seller to plummet the prices back to support $0.561. Moreover, these slopes dived into the bearish territory, indicating negative sentiment among market participants.,
Bollinger band: the falling prices breached the indicator’s support trendline, suggesting selling from trades that need to be stabilized.
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