news 
CURVE DAO PRICE ANALYSIS & PREDICTION (December 21) – CRV Drops To Three-Week Low Following A 40% Correction In A 7 Days
As altcoins continued to suffer losses amid the ongoing correction, CRV saw another 15% drop overnight to reach its lowest level in three weeks. It may appear weak, but its short-term bullish trajectory is still intact.
The first and second weeks of December saw CRV’s price go through a consolidation phase after failing to push above $1.34 earlier this month. Breaking down from that phase, it lost the key $1 level on Wednesday and closed with an engulfing bar. This triggered more sell-offs yesterday and the price further fell off the $0.8 level to a low of $0.735 today.
There are no signs of recovery yet as supply becomes heavy in intraday trading. The bears are now targeting the $0.7 level. If this price level holds, we can expect a small relief in the selling pressure. If not, it may enter the $0.5 range before bouncing back stronger.
Looking at the last three days of trading, which marked CRV’s biggest drops since the crypto started to correct lower, it seemed to have reached an oversold condition in the hourly timeframe, though there’s still room for selling in the daily timeframe. So far, the overall market condition has been horrible following a 40% loss in the past week.
Nonetheless, there’s still hope for the long-term bulls. A drop below $0.2 could trigger a serious bearish sentiment.
The article concludes by stating that CRV’s Key Levels To Watch:
* The next target support for the bears right now is $0.577.
* If it breaks, the key support level to watch next would be $0.47.
* A broader correction could bring us back to $0.367 before initiating a fresh increase.
* A recovery from the current daily low could bring a retest at the flipped $0.88 and $1.05 levels.
* The higher resistance level for a break-up is $1.34.
In addition, it highlights some Key Resistance Levels: $0.88, $1.05, $1.34 as well as some Key Support Levels: $0.577, $0.47, $0.367.
Lastly, the article mentions that Spot Price: $0.736 and Trend: Bearish Volatility: High
Source: nulltx.com
