Bulls Rally Together To Elevate CRV’s Price By More Than 20%

© Reuters. Bulls Rally Together To Elevate CRV’s Price By More Than 20%

• Curve DAO’s price surged over the past 24 hours.
• Bulls have the upper hand on CRV’s daily chart as a number of technical indicators suggest that CRV’s price will continue to climb.
• CRV’s price may look to target $2 if the bulls break the current resistance.

Curve DAO (CRV) experienced a price surge over the past 24 hours according to date from CoinMarketCap.

At the time of writing, the crypto market tracking website shows that CRV’s price climbed around 23.81% over the last 24 hours, taking its price up to $1.41. Not only has CRV’s price strengthened against the dollar, but it has also strengthened against the crypto market leaders, Bitcoin (BTC) and Ethereum (ETH) by 22.64% and 16.20% respectively.

As things stand, one CRV is worth approximately 0.00006122 BTC and 0.0008912 ETH.

CRV’s price set a 24-hour high at $1.43, and a 24-hour low at $1.14. Furthermore, CRV’s 24-hour volume has picked up by 55.33% to take the total to $377,636,130.

Daily chart for CRV (Source: CoinMarketCap)

The main thing to take note of on CRV’s daily chart is the formation of a bullish ascending triangle chart pattern, as CRV’s price printed higher lows together with higher highs.

The 24-hour movement of CRV’s price is a continuation of the trend over the past couple of weeks which has seen CRV’s price climb from $0.687 to its current level. This bullish rally started when the 9 EMA line crossed above the 20 EMA line on the 6th of July.

Technical indicators are bullish for CRV. In addition to the 9 EMA positioned above the 20 EMA and the bullish chart pattern that has formed on CRV’s daily chart, the MACD is also sloped positively and positioned above the MACD signal line, and the gradient of the MACD histogram is positive too. The bulls seem to have the upper hand at the moment.

Should bulls successfully push CRV’s price above the base of the bullish chart pattern and maintain its position, then the next level that CRV will look to target is $2.012.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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