Curve DAO Price Slumps Nearly 7% in 24Hrs, Pullback or Reversal?
- Curve DAO Token (CRV) price slumped 6.7% in the last 24 hours and is currently trading at $0.486.
- Curve DAO crypto price experienced a heavy selloff of over 10% in the last two intraday sessions.
- The daily chart shows that the CRV price might get support near the 50-day EMA.
Curve DAO Token price slumped 6.7% intraday and over 10% in the last two days. The CRV price is nearing the 50-day exponential moving average that might act as a support and try to halt the declining momentum.
The daily chart witnessed an optimistic trend that started from the $0.4 level and gained 33% to reach the 0.55% level in the past three weeks. However, the price tends to lose momentum as it surged higher.
Recently, the crypto price consolidated near the swing for more than a week. However, the consolidation resulted in a breakdown and the price declined. The price is currently nearing a previous breakout zone and 50-day EMA from where it might gain momentum.
However, the selloff has gained momentum and the price trend might show a reversal instead of a pullback.
The volume analysis shows that the CRV crypto received $35.27 Million volume in the last 24 hours which is 38.02% more than the last day. The volume-to-market cap is 8.21% indicating the mild volatility in the crypto.
Curve DAO Token Price Prediction For 2023 and 2025
The average analyst price target for Curve DAO (CRV) in 2023 is $0.75, which represents a potential upside of 90% from the CMP. However, there is a wide range of analyst price targets from $0.20 to $1.11. The most optimistic 2023 price target for CRV crypto is $1.11.
Technical Indicators Show Weak Trend in the Short-Term
MACD lines are showing a pessimistic crossover. Also, histogram bars are formed above the mean line of decreasing height, indicating the loss of momentum in buying. The sellers might dominate.
The EMA analysis shows that the CRV price has recently shown a breakout of the 50-day EMA indicating bullishness in the short term. The price might get support near the 50-day EMA.
Conclusion
Curve DAO token price has slumped 10% in the last two days and is nearing the 50-day EMA. The price trend might show a reversal instead of a pullback. The volume analysis shows mild volatility in the crypto. The average analyst price target for CRV crypto in 2023 is $0.75, with a wide range of targets from $0.20 to $1.11
Technical Levels
- Support Levels: $0.44 and $0.40
- Resistance Levels: $0.54 and $0.58
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
