DAO curve (CRV) It soared to new monthly highs after exceeding $5. At the time of writing, the token is up more than 10% in daily trading, reaching $5.9 in price. CRV has also managed to curve through the $4 horizontal resistance and appears poised to establish a decisive upside trend in the near term. But how long can this bullish run last? Well, here are some highlights first:
The recent increase has taken the Curve DAO down about 20% from its all-time highs this year and it could regain those highs before the New Year.
All technical indicators are bullish including the short and long term moving averages.
CRV is also trading with the RSI above 50, which indicates that it is in a nice uptrend.
Data source: Tradingview.com
Curve DAO (CRV) – Price Action and Analysis
Since April, CRV has been somewhat in a downward spiral. However, at the beginning of the month, the coin finally managed to break out of the downtrend and started to consolidate. This was followed by a boom that saw CRV reach $6.4 at one point.
The coin has lost some of that momentum since then, but is still trading at $5.9 at the time of writing. Analysts are watching if the coin can regain the $6.4 highs. If it does, the next resistance level will be $8.60, and if the current uptrend already continues, we look to CRV price to consolidate around that limit.
Should you buy a Curve DAO (CRV)?
The answer is yes. CRV is showing great momentum at the moment. This comes after the token has been slow at best for three months. It looks like it’s about to explode, and it wouldn’t be surprising if it regains its annual highs by the end of 2021. It’s a perfect asset for both short and long term plays.