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Price action in the Curve market has experienced another upside retracement today. The market has been undergoing steady downward corrections ever since the price action reversed near the $0.4000 threshold. At this point, the observed gains have not signaled a significant bullish reversal, based on market indicators.
CRV Statistics:
Current CRV Price: $0.2687
Curve Market Cap: $316,467,997
Curve Circulating Supply: 1,190,278,849
Total Supply of CRV: 2,165,562,519
Curve CoinMarketCap Rank: 142
Price activity in the CRV daily market has generally been trending downward for ten sessions. However, the ongoing session has shown an upside retracement, though price action remains below all the applied Guppy Multiple Moving Average (GMMA) curves.
Additionally, the Stochastic Relative Strength Index (Stochastic RSI) lines can be seen rising upward from the oversold region. However, the trajectory of the indicator appears shaky, suggesting that the upside price retracement may still be muted. Therefore, it is advisable for traders to closely monitor the situation before making bullish speculations.
Can the CRV Market Break Free From Gravity?
Price action in the Curve 4-hour market is holding above the $0.2600 threshold. The previous session dipped below that mark but then contracted upwards and moved above it. The ongoing session has continued in the same direction and has risen past two of the five green GMMA curves. Moreover, the Stochastic RSI lines have delivered a bullish crossover in the oversold region.
At this point, the indicator lines suggest that an upside retracement is possible. However, traders may want to wait until price action rises through all the green GMMA curves, indicating that the market may target price regions above $0.2800. Only then might crypto signals with targets around that level be useful. Otherwise, the market could break down the support at or even below the $0.2500 price level.
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