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CURVE DAO PRICE ANALYSIS & PREDICTION (December 29) – CRV Faces Resistance At $1 After A Week Bounce, Will It Break?
By: Will Izuchukwu on December 29, 2024
Following this month’s reduction, which led to over 30% correction in two weeks, CRV found support a week ago and bounced back. Confronting a crucial level, the trend still appears to be looking bullish on the daily timeframe.
The recent monthly decline caused a significant decrease in the market, but CRV managed to hold above the $0.69 level last week – providing a substantial discount for the bulls. They took advantage of it and pushed the price back up with a strong close above the $0.8 level. Volatility increased this week, and the price surged consistently until it hit the key $1 level on Wednesday.
This key level posed a threat to the bulls and the price dropped. Resurging from $0.89 yesterday, the price is once again facing resistance at the mentioned key level. However, looking at the latest move, CRV appears to be staging a new rally following the recent bounce back. A break above this level could fuel a bigger rally in the next few days, although the current monthly high is another major obstacle to overcome before the massive rally takes place. Failure to scale through could result in a drop capable of correcting the price lower before finding a solid level for a fresh increase.
However, from the look of things, the bulls are more likely to have an upper hand.
CRV’s Key Levels To Watch
Source: Tradingview
Source: nulltx.com
