CURVE DAO PRICE ANALYSIS & PREDICTION (May 1) CRV Taps 7% Gains Amid Fresh Resurge, Poises For More Recoveries
CRV advanced bullish following another major gain since yesterday, although several obstacles lie ahead as it nears a key resistance level.
Following Marchs rebound from a multi-month low of $0.35, CRV saw a nice recovery to a month high and pulled back into $0.39 the following month. Though it later initiated a buy after holding the level as support.
That buy ended the markets three-month corrective phase with a new higher low pattern on the daily chart, and the price increased to $0.6. It formed a bullish head-and-shoulder pattern and broke out, though it was not clear as the price calmed around the neckline for almost two weeks.
A surge out of the calm phase saw the price to $0.7. After witnessing a slight pullback, it resurged yesterday and pushed to a high of $0.75 today. A further surge should bring more growth in the coming days.
As seen on the daily chart, CRV is seriously gathering momentum in the ongoing buying phase. This suggests an incoming explosion. If the price recovers to $1.3, we can anticipate a big price movement in the future.
Otherwise, things might go south again if the bears intercept the latest bullish move. Should that come into play, they must reclaim Marchs rebound level before we can consider a bearish move from a mid-term scale. But as it stands, the bulls are currently in charge of the market.
CRVs Key Levels To Watch
Source: Tradingview
CRV will likely face resistance at the $0.762 level. As a matter of fact, the latest rejection indicates a possible pullback. However, if the market scales through, the next target resistance levels would be $0.92 and $1.1.
While the $0.6 level continues to act as support, a drop off it could roll the price back to $0.49. Lower support levels to consider for more drops are $0.396 and $0.35, marked in April and March respectively.
Key Resistance Levels: $0.762, $0.92, $1.1
Key Support Levels: $0.6, $0.49, $0.396
- Spot Price: $0.72
- Trend: Bullish
- Volatility: High
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Text source: NullTX
