Curve (CRV) Stays Downwind

The Curve token has seen a price increase of 3.81% so far today. However, despite this price increase, it remains evident that bears are still largely holding sway here. Albeit, there might be short-term opportunities in this market, so let’s dive in.

CRV Statistics

Current Price: $0.4229

Market Capitalization: $610.84M

Circulating Supply: 1.41B

Total Supply: 2.32B

CoinMarketCap Rank: 88

Key Levels

Resistance: $0.4500, $0.5000, $0.5500

Support: $0.4000, $0.3500, $0.3000

Curve Remains Depressed Despite Minimal Rebound

The CRV daily market shows that price action has been on a long-term downward trend since July. This is clearly revealed by the drawn downward-sloping trendline in the chart. The last price candle on this chart, however, has appeared green but remains below the 9-day Exponential Moving Average (EMA) line.

Also, the Stochastic Relative Strength Index (SRSI) indicator lines are converging for a crossover as they drop into the oversold region of the indicator. While a bullish crossover in this market will aid price action in proceeding upward, more buying is still needed

CRV Rise Toward the $0.4500 Mark

In the Curve 4-hour market, one can see that price action has been proceeding toward higher ground on a modest scale. The last price candle here has placed the market above the 9-day EMA.

Similarly, the SRSI indicator lines are poised upward. Albeit, traders can note the jerky movements of the SRSI indicator lines and, as such, take caution as things may be a bit fragile. Therefore, a target at the $0.4500 price level may just be sufficient enough.

Given this setup, traders may consider setting their next target at the $30 price level.

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