Price movement in the Curve daily market has today extended its upside correction after touching the lowest level of the Fibonacci Retracement tool. The market is now making efforts to cross back into more bullish territory and acquire more upside traction.
Key Price Levels:
Resistance: $0.4000, $0.5000, and $0.6000
Support: $0.3000, $0.2000, and $0.1000
Curve Sees a Moderate Upside Correction
Although CRV’s price action is still below the Exponential Moving Average (EMA) curves, it appears that price action is under less pressure from headwinds. Based on available metrics, the token’s price has increased by an impressive 11.26%. The current session is now about to cross above the 78.60 Fibonacci Retracement level.
Additionally, the Moving Average Convergence Divergence (MACD) indicator lines are now approaching a bullish crossover just below the equilibrium level. Given the magnitude of movement even before a crossover is achieved, it seems that a MACD crossover would affirm that price action will eventually emerge above the 78.60 Fibonacci Retracement level.
CRV Sees Minimal Rejection But Stays on Course
Price activity in the Curve 4-hour market still has a general bullish bearing. However, a slight deviation from that course has been observed in the ongoing session. Despite this, the token now trades between the EMA lines, even with minimal downward rejection.
The MACD indicator lines are still trending upward after just crossing above the equilibrium level. Additionally, the MACD bars remain solid green despite the downward rejection, suggesting that the upside correction will likely continue. Therefore, traders might want to use crypto signals with targets around this $0.4000 price level.
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