crypto

Curve Dao Coin Price Targets 30% Increase in Early 2023

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Over the past five months, Brian Bollinger’s Curve dao coin prices have been in steady decline. The price of Curve coins dropped 66% from their high of $1.6 to trade at $0.53. The daily technical chart shows that the downtrend is due to the formation of a falling channel. This is when price action falls within two parallel walking trendlines that indicate a downtrend. Though this technical setup seems to carry a strong downfall in theory it provides an excellent buying opportunity upon the breakout of its resistance trendline?advertisementKey points:The parallel channel pattern govern the ongoing downtrend in Curve dao coin
A bullish RSI divergence suggests a bullish reversal
The CRV token’s intraday trading volume is $30.6 million, which indicates a 15% gain.
Source: Tradingview The CRV has reversed from both trendline barriers several time, indicating that traders are following the channel pattern and should do so for its potential target. Despite the uncertainty in the crypto market, Curve Dao’s coin price has been hovering above $0.5 for the past two weeks. Trending StoriesIf buyers can sustain above $0.5 support, the price could rise 30% to challenge pattern’s overhead trendline. A potential bullish breakout of the overhead trendline could signal the beginning of a new recovery rally. This breakout could boost buyers and drive prices up 88% to $1. However, in ideal conditions, Curve dao coins should reach the higher peak in this pattern which is $1.5. This bullish divergence increases the possibility of price recovery.advertisementEMAs: the downsloping crucial EMAs(20, 50, and 100) seems to provide excellent dynamic resistance to falling CRV price. The downsloping crucial EMAs (20, 50, and 100) seem to provide excellent dynamic resistance to falling CRV prices.
Trend: Bullish
Volatility: High,
Resistance levels: $0.544 and $0.76
Support levels: $0.5 and $0.4
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The content presented may contain the author’s personal opinion and may not reflect current market conditions. Before investing in cryptocurrency, do your market research. Close Story