CRV, Curve Finance’s governance token, is a decentralised stablecoin exchange that aims to draw deep liquidity to ensure zero slippage.
Curve DAO Token (CRV) has reclaimed the $5 horizontal barrier area and is now trading at only 25% of its all-time high price. The technical indicators for CRV are also optimistic. The MACD, which consists of a short and long-term moving average (MA), is positive and rising.
The nearest resistance is the all-time high of $6.40. The next level of resistance is $8.60 if it can break through it.
Likewise, the CRV/BTC trading pair looks upbeat. The token has broken over the 8,350 satoshi resistance mark that has held it back since the beginning of the year. The next point of resistance, if the token continues to advance, is at 12,350 satoshis.
Curve Finance Price Analysis
One decentralised finance altcoin, according to a famous crypto analyst, is imitating the behaviours of other crypto assets immediately before they break out.
Curve Dao Token (CRV) looks like a “coiled spring twisted tight,” according to Pentoshi, a pseudonymous crypto researcher with 429,500 Twitter followers.
On the Curve/Bitcoin (CRV/BTC) chart, Pentoshi sees a trend where CRV starts making higher highs and lower lows just as it breaks into a volume gap, which is the space between recent highs and highs from a long time ago.
“Chart. Clean, multi-year level with HH + HL compression into vol gap”
At the time of writing, the 74th-ranked crypto asset by market size is trading at $5.09, up 9.43 percent in the last 24 hours. CRV is likewise trading at a level that is substantially equal to where it was one month ago.
The analyst then compares the structure of CRV’s chart to that of scalable smart contract platform Algorand (ALGO), proof-of-stake blockchain Cardano (ADA), and leading crypto Bitcoin’s prior rallies.