At the time of writing Curve Dao (CRV) is being traded at the price of $5.11. In a single day, the price has almost increased by 8.86%. The daily trading volume has decreased by almost 10.24% in the past 24 hours. On coinmarketcap CRV is listed in the 63rd spot and has a market dominance of about 0.08%. CRV had its ATH around the price of $23.25 which is achieved during the month of August (on 15th August). Overall the start of Q4; October has been bullish for the price and CRV had an increase of about 120% this month.
Technical Analysis (CRV)
Let’s start from the higher time frame. On the monthly TF, we can see that CRV is tapping in the opening candle of August month. That candle got rejected by a very huge amount of sellers. We can expect the same kind of rejection again from around this level.
On the weekly timeframe, we can see that the price has tapped in the weekly order block and it has created a major double bottom and broke its neck line. It can be anticipated that it might retest that neck line of the double bottom to rally up again.
On the daily timeframe, it can be seen that the candles of 26th and 28th October got rejected from around the price of $5.252 and the same kind of rejection has been observed in the running candle. Now understanding the psychology behind the candle it can be observed that whenever the price reacted from this level, the next candle closed as a bearish candle. So with the idea that “price is fractal,” it can be expected again.
On the 4 hours, TF CRV has formed a turtle soup pattern. Now as the market has grabbed stop losses through its stop hunt candle, the price has the necessary fuel to rally in either direction. As the price is failing to break above this level ($5.517) and due to the presence of imbalance and unmitigated daily order block below, the price is very likely to push down to a price of $4.541 and if it doesn’t hold, the final target can be around the order block.
Price Prediction CRV
According to wallet investors, CRV is a good investment but not providing a great return. According to them, CRV is supposed to reach the value of $5.390 in a single year and in five years the price is expected to reach a value of $11.119.