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CRV Price analysis: Rising $CRV Knockout $0.86 Resistance; is $1 Next?

While the crypto market is still struggling with uncertainty , the Curve Dao (CRV) is rising higher on the price chart. On July 1st, the altcoin bounced back from the flipped support of $0.685, indicating the buyer’s attempt for another leg up. Thus, a bullish breakout from immediate resistance of $0.865 suggests growth potential for coin holders.
Key points:

The CRV price has gained 43% is past six days
The $0.865 breakout could drive the CRV price 30% higher
The intraday trading volume in the CRV token is $177.4 Million, indicating a 44.3% gain.

Source- Tradingview
The CRV/USDT pair tumbled 20% in response to the late June sell-off and reached flipped support of $0.685. However, On June 30th, the long tail rejection candle at this support indicated the price sustainability, suggesting the market sentiment has flipped from selling on rallies to buying on dips.
The post-pullback rally has surged the CRV price by 30%, which currently trades at the $0.888 mark. Moreover, the five consecutive green candles, backed by a high volume rise, reflect a genuine recovery rally.
Furthermore, the bullish rally has breached the prior swing high of $0.885, indicating the coin is ready to reclaim higher prices. If the buying pressure persists, the buyers will propel the altcoin 24.5% high to the $1.07 mark.
However, this overhead resistance could trigger another pullback opportunity for traders waiting to buy CRV.
Technical analysis
OBV indicator: The rising OBV slope accentuates a genuine recovery rally.
RSI indicator: the daily-RSI slope climbing stepper rally has breached the neutral line(50), indicating growth in bullish momentum.
Bollinger Band indicator: the coin price pokes the indicator’s upper highlights aggressive buying from traders. Even though hitting the overhead resistance usually calls for a price reversal, the midline support could maintain the bullish momentum.

Resistance levels- $1.07, and $1.3
Support levels- $0.86 and $0.68

The post CRV Price analysis: Rising $CRV Knockout $0.86 Resistance; is $1 Next? appeared first on CoinGape .

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