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The Curve token remains on the top daily crypto movers list today. However, it has changed position, moving from the second spot to the third. This is despite the token experiencing a general price increase of 4.86%. Additionally, price action in this market still appears burdened below important technical levels.
Curve Statistics:
CRV’s Current Price: $0.47
Market Capitalization: $611.34M
Circulating Supply: 1.28B
Total Supply: 2.22B
CoinMarketCap Rank: 103
Key Price Levels:
Resistance: $0.5000, $0.5250, $0.5500
Support: $0.4500, $0.4250, $0.4000
Curve Retreats Below All MA Lines
Price action in the CRV daily market retreats below the 200-day MA curve despite previous attempts to surpass this level. However, the ongoing session appears compressed below all the Moving Average (MA) lines.
Likewise, the crossover observed on the Stochastic RSI lines is tending sideways. Technically, this suggests that price action is succumbing to downward pressure, and the token’s price may continue to decline.
CRV Market Still Retains Bearish Potential
Even on the Curve 4-hour chart, price action still appears to be leaning toward a downward trajectory. Recently, bearish activity has been more prevalent, as reflected in the formation of consecutive bearish price candles.
The latest price candle is also bearish and remains compressed below all the MA lines. Meanwhile, the Stochastic Relative Strength Index (RSI) lines descend into the oversold region. As a result, market conditions indicate that price action may continue downward, as the token still exhibits a suppressed outlook. Traders can anticipate a potential breach of the $0.4500 support level.
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