PowerPool Price Prediction 2021 – Will CVP Hit $7 Soon?

PowerPool Price Prediction 2021 - Will CVP Hit $7 Soon?
  • Bullish CVP price prediction ranges from $2.17 to $6.92.
  • CVP price might also reach $7 soon.
  • CVP bearish market price prediction for 2021 is $1.27.

In PowerPool (CVP) price prediction 2021, we use statistics, price patterns, RSI, and much other information about CVP to analyze the future movement of the cryptocurrency

PowerPool is a DAO manager of non-custodial structured investments offering a broadly diversified, actively managed, a rewards-rich, gas-efficient, multi-chain family of thematic pooled investment tokens with hedging options easily blended by average investors.

CVP is a governance token that governs the PowerPool protocol. PowerPool (CVP) is a protocol to pool governance tokens (GT) such as COMP, BAL, LEND, YFI, BZRX, AKRO, and so on

Current Market Status of PowerPool (CVP) 

According to CoinGecko, the PowerPool price is trading at $1.63 with a 24-hour trading volume of $2,273,047, at the time of writing. However, CVP has decreased by 0.05% in the CVP 24 hours. 

Currently, CVP trades in cryptocurrency exchanges such as Binance, OKEx, Huobi Global, BiONE, and HitBTC.

PowerPool (CVP) Price Prediction 2021

PowerPool (CVP) holds the 626th position on CoinGecko right now. CVP price prediction 2021 is explained below with a daily time frame. 

CVP/USDT Descending Triangle Pattern (Source: TradingView)

The above chart shows the Descending Triangle Pattern. A descending triangle is a bearish chart pattern that is created by drawing one trend line that connects a series of lower highs and a second horizontal trend line that connects a series of lows. It is a sign for traders in a short position to accelerate a breakdown. Among traders descending triangle is a very popular chart pattern because it clearly shows the demand for an asset.

In the daily time frame chart, the CVP can reach $4.17 if the bull trend continues. Or else, if the price of the CVP breaks the resistance level of $2.03, it will fall to the support level of $0.79. So, the trend of the CVP is based on the breakout.

PowerPool (CVP) Support and Resistance Level

The below chart shows the support and resistance level of PowerPool (CVP). 

 CVP/USDT Support and Resistance Level (Source: TradingView)

From the above chart, it is observed that the following are the resistance and support levels of CVP.

  • Resistance Level 1 – $2.17
  • Resistance Level 2 – $4.02
  • Resistance Level 2 – $6.92
  • Support Level 1 – $1.27
  • Support Level 2 – $0.69

The chart depicts the bullish performance of CVP over the previous month. However, this trend will continue to reach a resistance level at $6.92 soon. Even more, if the trend reversed then CVP might fall to $0.69 presenting a bearish signal.

PowerPool (CVP) Average Directional Index (ADX)

Let us now look at CVP’s Average Directional Index (ADX). In particular, the ADX assists traders in determining the strength of a trend rather than its direction. It can also used to determine whether the market is changing or if a new trend is beginning. It is, however, linked to the Directional Movement Index (DMI).

Moreover, the oscillator has a range of 0 to 100. In addition, a high value represents a strong trend, while a low value represents a weak trend. Furthermore, it frequently combined with directional indicators.

 CVP/USDT ADX (Source: TradingView)

The above chart represents the ADX of CVP lies in the range of 48, so it indicates a strong trend. This shows that the price of ADX can go even bullish in the future.

Conclusion

The CVP is one of the cryptos which is great for long-term investment. In addition, CVP price prediction is bullish for the short term. It has a good chance of reaching its all-time high of $17.27 by the end of this year. However, this will only happen if many previous psychological barriers are broken.

Furthermore, with the advancements and upgrades on the CVP ecosystem, the performance of CVP would rise reaching $6.92 very soon. But, it might also reach $7 if the investors believe that CVP is a good investment in 2021.

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

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