The triangle breakout rally struggles to surpass the 100-day SMA despite a 24% yesterday. Will this struggle result in a bullish failure for CRV? Key Technical Points: The CRV prices jumped by 8.94% in the last 24 hours. The bull run takes a step back from the 100-day SMA. The 24-hour trading volume of Curve DAO is $337 Million, indicating a rise of 92.69%. Past Performance of CRV As you mentioned in our previous analysis, CRV price escapes the symmetrical triangle in the daily chart. The breakout rally exceeds the psychological mark of $1 to test the 100-day SMA at $1.50. The bull run accounts for a price jump of 62% in the last week but failed to surpass the opposing SMA. Source – Tradingview CRV Technical Analysis CRV price action shows the daily candle dumping the market value by 5.42%, teasing a tweezer top formation. Hence traders might find a retracement to the psychological mark of $1 as a retest due to increased selling pressure. However, a bullish reversal exceeding the 100-day SMA will result in a price jump to the $2 mark. The underlying bullishness shows a gradual growth as the RSI slope continues to grow with the support of the 14-day SMA. However, bearish divergence grows between the price jump and RSI jump, teasing a downfall. However, the MACD indicator shows the fast and slow lines avoiding a downfall as the lines regain the bullish alignment. Hence, the technical indicators represent an increase in selling p...
What Happened In Crypto This Week?
