Curve (CRV) Retreats Below the $0.4000 Threshold

The Curve token experienced a price increase of more than 5% today. However, downward pressure has pulled the market below the $0.4000 price level. This has reduced the session’s profit to 4.56%. Let’s try to analyze the market’s potential direction.

CRV Statistics:

Curve Price: $0.3927

Curve Market Capitalization: $477.78M

CRV Circulating Supply: 2.19B

CRV Total Supply: 1.24B

Curve CoinMarketCap Rank: 145

Key Price Levels:

Resistance: $0.4000, $0.4500, $0.5000

Support: $0.3500, $0.3000, $0.2500

Curve Stays in the Green Despite Seeing Rejection

The current session in the CRV daily market remains positive. The latest price candle initially formed a long green candle. However, it has since contracted downward, leaving a long upper shadow. Nevertheless, the coin still trades above the Moving Average (MA) lines.

Additionally, the Stochastic Relative Strength Index (RSI) indicator is already in the overbought region. Due to the downward price correction, the RSI lines are now trending towards a bearish crossover. However, the position of the price above the MA lines still suggests a potential upside.

CRV is Still Generally at a Higher Low

Since November 5th, the Curve token has been forming higher lows. This indicates that upward forces have regained control after each downward correction. In the 4-hour market, price action remains above all MA lines. The latest price candle is red and has brought the market below the $0.4000 mark.

Simultaneously, the Stochastic RSI lines are still in an upward crossover above the 50 mark of the indicator. Technically, this suggests that the market may extend its upward correction. Therefore, crypto signals targeting a breakout above the $0.4000 price level and towards the $0.4200 mark may be considered in this market.

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