Issued on: 22th May’23
Valid upto: 26th May’23
Token: CRV
Category: DeFi
Market Cap: $689,242,442
Circulating Supply: 818,336,655
Total Supply: 1,952,014,280
Price Update: Curve launched a decentralized autonomous organization (DAO), with CRV as its in-house token. The DAO uses Ethereum-based creation tool Aragon to connect multiple smart contracts used for users’ deposited liquidity. Curve (CRV) price at the time of writing (22th May, 15:40) is $0.842 with 24-hour trading volume of $37,013,245. CRV price is up by 1.85% in the last 24 hours according to coinmarketcap.com.
Source: Tradingview
Analyzing the above chart:
- CRV price action is forming an ascending triangle at $0.842, which is also trying to break horizontal resistance.
- Currently prices are trading above 55 EMA (orange Line) and breakout from here, would lead to upward momentum towards 200 EMA (Blue Line)
- Also, the volumes are showing uptick from past 12 hours, which are indicating possible breakout in coming candles.
- A Long Trading strategy can be assessed between $0.844-0.81 with invalidation below $0.794.
- On the upside, one can see a rise of 6-8% towards $0.875 as first level, and if markets are sustained we can also see moving towards $0.91.
- It would seem that one should maintain a balanced risk to reward ratio and check use of leverage and position size to ride out current market conditions.
Note: CRV is now available in the futures market in both Go and Pro apps with up to 15x leverage.
Trade CRV in Futures Market at CoinDCX app
Trade CRV in Futures Market at CoinDCX Pro
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