- Curve DAO Token price analysis shows a bearish market sentiment today.
- CRV has struggled to maintain the support level of $0.6506.
- Resistance to cryptocurrency is found at the $0.6816 mark.
Curve DAO Token price analysis shows the price function is facing bearish resistance once again after the bearish trend returns to the market. The price has receded back to the $0.6651 level during the last 4 hours, and it is expected that it will go through a further decline in the coming hours. There have been constant changes in trends as ups and downs can be seen in the price movements over the past days, with the balance of power favoring the bearish side, and today the bears are again in the leading position. The chances are getting dim for the bulls to find recovery today, and the coin may soon dip into the $0.6506 range.
The bullish sentiment was seen in the market a few hours before when it surged ahead and went above the $0.6816 mark, but now that resistance is preventing further upward movement and the bears are taking control. However, the bears may also reach an exhaustion point and a new wave of bullish sentiment may follow in the coming days.
The coin’s price action is currently stuck between $0.6506 and $0.6816, and it is essential to break this range for the coin to make significant progress in its price action. Despite bearish pressure, the coin still has some potential to surge ahead, and traders should be alert for any signs of bullish momentum.
The 24-hour volume of the coin has been relatively moderate and is now at $71,918,127. On the other hand, the market capitalization is at $352,631,360.
CRV/USD 1-day price chart, Source: TradingView
Looking at the technical indicators, the MACD is still in the bearish zone as the signal line (orange line) is currently above the MACD line (blue line). The Relative Strength Index (RSI) is also in bearish territory and stands at 51.64, indicating that the coin is currently facing downward pressure. The moving average indicator (MA) in the one-day price chart shows its value at $0.5987, which is above the current price, but it may soon cross below the SMA 50, which will be a bearish indication.
The 4-hour price chart for CRV tokens shows that the trend is still bearish as the prices have been on a downtrend for the last 4-hour session. The coin is currently trading at $0.6651 and is down by 0.96% in the last 4 hours. The MACD indicator is in the bearish zone as the histogram is in red, and the signal line (orange line) is currently below the MACD (blue line).
CRV/USD 4-hour price chart, Source: TradingView
The moving average is trading at a $0.664 position in the 4-hour chart. The SMA 50 curve is trading above SMA 20, confirming a major bearish pressure on the cryptocurrency. The Relative Strength Index (RSI) score is in the lower neutral range at an index of 70.15, which is still a good score, but the slight downward curve of the indicator hints at the selling activity in the market.
To sum up, the prices of CRV tokens have been on a downtrend and are currently facing bearish pressure. The selling activity is still strong and the prices may continue to remain in a bearish zone for some more time.
Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.