Cryptoknowmics 2022-05-27 22:30:13

CRV Technical Analysis: Falling Channel Soon Drive Prices Under $1

CRV price shows a falling channel pattern fueling the downtrend and preparing a bearish attack to the crucial support level of $1. Key technical points: CRV market value declined by 4.34% in the last 24 hours. Sellers prepare to break the $1 mark. The 24-hour trading volume of Curve DAO Token is $153 Million, indicating a rise of 4.7%. Past Performance of CRV CRV prices fell drastically under the influence of a highly bearish trendline, which led to the development of a falling channel. Furthermore, the downtrend broke the crucial support level of $2 on May 11th. Nonetheless, the $1 support helps the market value float and prevents further downfall. Source-Tradingview CRV Technical Analysis A sharp break away from the psychological support of $2 brought the CRV down to a low of $1. The price action gradually gets narrower, with an energizing descending trendline as well as $1 strong support. Sharing a bullish stage, the MACD and VI lines project a high possibility of a bullish reversal. This is due to the bullish crossover of the MACD and signal lines and the reversal in VI lines ready to regain the bullish alignment. However, the Stochastic RSI indicator shows the K and D lines falling below the overbought zone after the recent bearish crossover. Hence, the indicator questions the uptrend sustainability and demands a price action confirmation. In a nutshell, the CRV technical analysis suggests a high possibility of a bullish ...

CRV Technical Analysis: Falling Channel Soon Drive Prices Under $1

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