Curve DAO Token (CRV) Technical Analysis 2021 for Crypto Traders

Curve DAO Token (CRV) Technical Analysis 2021 for Crypto Traders

In Curve DAO Token (CRV) Technical Analysis 2021, we use past statistics, price analysis, RVOL, MA, and much other information about CRV to analyze the future trend of the cryptocurrency. 

Curve DAO Token (CRV) is an Ethereum token that is used to power Curve.fi, a decentralized exchange and automated market maker protocol. The protocol is intended to facilitate the exchange of similar ERC-20 tokens, primarily stablecoins and Ethereum-based Bitcoin tokens.

The launch of the DAO and the CRV token resulted in increased earnings, given that the CRV token is used for governance and is awarded to users based on liquidity commitment and length of ownership.  Curve’s longevity has been ensured by the explosion in DeFi trading, with AMMs turning over massive amounts of liquidity and associated user profits.

Curve DAO Token (CRV) Current Market Status

According to CoinGecko, the CRV price is trading at $2.26 with a 24-hour trading volume of $173,599,245, at the time of writing. However, CRV has surged to 7.04% in the last 24 hours.

In addition, CRV has a circulating supply of 395,900,687 CRV coins. Currently, CRV trades in Binance, Tokocrypto, Huobi Global, CoinTiger, and OKEx. 

Curve DAO Token (CRV) Technical Analysis 2021 

Curve DAO Token (CRV) holds the 111th position on CoinGecko right now. The recent development and upgrades might push CRV to reach new heights. Now, let’s deep dive into the CRV technical analysis 2021. The daily time frame chart of Curve DAO Token (CRV) is shown below.

CRV/USDT Flag Pattern (Source: Tradingview)

The Flag is a trend continuation pattern that allows you to enter the market while it is still trending. It occurs when an asset’s price moves up or down in a strong trend and then abruptly stops.

Currently, CRV trades in a range of $2.26. The price breaks at the breakout level of $2.23, so it has a high chance of reaching resistance level at $4.68. If the trend reverses then the chart will drop and will reach the $1.12 level soon.

Curve DAO Token (CRV) RSI

The below chart shows the relative strength index (RSI) of CRV. 

CRV RSI (Source: TradingView)

As shown in the above chart, RSI remains at 66.71. This shows that CRV’s price is in a nearly overbought state. This shows that traders have to trade carefully, however, major price reversal could take place.

Curve DAO Token (CRV) RVOL

The below chart shows the Relative Volume of CRV. It is an indicator that indicates to traders how the current trading volume has changed over a period of time compared to the previous trading volume.

CRV RVOL(Source: TradingView)

Currently, the RVOL of CRV lies below the cutoff line which represents the weaker participants in the current trend.

Curve DAO Token (CRV) Moving Average

Curve DAO Token’s Moving Average (MA) is shown in the chart below. MA supports traders to find trends.

CRV MA (Source: TradingView)

Currently, CRV is in a bullish state. However, CRV price is above 50 MA (short-term), and it has a high chance of moving higher. Furthermore, CRV price is above 50 MA and 200 MA (long-term), so it is completely in a bullish state. Moreover, there is a high possibility of Trend reversal at any time.

Curve DAO Token (CRV) Price Comparison With Bitcoin

The below chart shows the price comparison between CRV and BTC. 

CRV vs BTC Price Comparison chart(Source: TradingView)

From the chart, we can identify the trend of the BTC and CRV is moving at the same level as the trend. This indicates when the price of BTC increases or decreases, the price of CRV also increases or decreases respectively.

Conclusion

With the ongoing developments and upgrades that are taking place within the CRV platform. Curve DAO Token has a great future ahead in this crypto market. However, CRV can reach new heights.

Bullish CRV price prediction 2021 is $4.68. As mentioned above, it may reach great heights, however reaching $5 is also possible, if investors have decided that CRV is a good investment in 2021.

FAQ

What is Curve DAO Token?

Curve DAO Token (CRV) is an Ethereum token that is used to power Curve.fi, a decentralized exchange and automated market maker protocol.

Where can you purchase CRV?

CRV is listed on many cryptocurrency exchanges that include Binance, Tokocrypto, Huobi Global, CoinTiger, and OKEx. 

Will CRV reach a new ATH soon?

With the ongoing developments and upgrades within the CRV platform, it has the high possibility of reaching its ATH soon.

Disclaimer: The opinion expressed in this chart solely author’s. It is not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

A devoted content specialist who is inquisitive on exploring crypto and blockchain technology. She is fond of providing innovative contents that tugged her to write for NewsCrypto.