news 
CURVE DAO PRICE ANALYSIS & PREDICTION (December 21) – CRV Drops To Three-Week Low Following A 40% Correction In A 7 Days
As altcoins continue to struggle amid the ongoing correction, Curve Dao’s native cryptocurrency, CRV, has seen a significant decline. The token has dropped by over 15% overnight, marking a three-week low and extending its recent losses to a staggering 40% in just seven days.
After failing to break above $1.34 earlier this month, CRV entered a consolidation phase, which ultimately led to the current correction. This week’s events saw a breakdown from that phase, with the token losing the key $1 level on Wednesday and closing with an engulfing bar. The resulting sell-offs have pushed the price down to its lowest level in three weeks at $0.735.
Intraday trading has seen supply become increasingly heavy, indicating no signs of recovery yet. Bears are now targeting the critical $0.7 level. If this mark is reached and holds, a brief reprieve from selling pressure might be expected. However, if it fails to hold, CRV could potentially enter the $0.5 range before staging a stronger rebound.
An examination of the past three days’ trading activity reveals that CRV has entered an oversold condition in its hourly timeframe, but still exhibits room for further selling in the daily perspective. Unfortunately, the broader market conditions have been dire, with a 40% loss in the past week. Despite this bleak outlook, long-term bulls can still find solace.
A decline below $0.2 could trigger a significant bearish sentiment shift. For now, it’s essential to monitor the price action closely for any signs of reversal or stabilization.
CRV’s key levels to watch are as follows:
Key Resistance Levels: $0.88, $1.05, $1.34
Key Support Levels: $0.577, $0.47, $0.367
Spot Price: $0.736
Trend: Bearish
Volatility: High
Source: nulltx.com
