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Investors can buy CRV for cheap if price falls to $0.42-$0.48 demand zone – Details!
According to recent market analysis, it seems that investors may have an opportunity to purchase Curve DAO [CRV] at a discounted price should the value fall within the $0.42-$0.48 demand zone.
As of press time, the CRV token continues its downward trajectory, with the price approaching the designated area. The chart indicates that this zone has previously acted as a supportive barrier for buyers in early April, resulting in a significant increase in value.
In recent months, CRV holders have faced losses, and the weighted sentiment gauge suggests a bearish tone among investors. Notably, the MVRV ratio, which tracks market capitalization-weighted return based on individual coin valuations, has been trending downwards, indicating that long-term investors are holding onto their losses.
However, despite the gloomy outlook, the mean coin age trend has been steadily increasing over the past week, hinting at possible accumulation of CRV by network participants. The dip in the MCA metric is concerning, but it does not seem to signal a capitulation event. On-chain data suggests that some selling activity has taken place recently, but the intensity of this movement was mild and did not trigger an alarming response.
If the price indeed falls within the aforementioned demand zone, investors could potentially purchase CRV at a more attractive rate, considering its recent performance.
Source: ambcrypto.com
