In-depth analysis! Is it a good time to buy Curve DAO now? MVRV is here to show you the way!
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While Bitcoin [BTC] and other altcoins have experienced some downturns, Curve DAO [CRV] is forging its own path.
After hitting a low of $0.687, the price of Curve Dao has risen for three consecutive days.
In the past few days, the altcoin has managed to touch a high of $0.93. At the time of writing, Curve Dao is trading at $0.836. This marks a 7.33% increase in 24 hours. Prior to this, CRV was on a downward trajectory, with a 22.94% drop on the weekly chart.
With a trend reversal seemingly inevitable, the question that arises is whether CRV can continue to resist the bearish trend experienced by the cryptocurrency market and continue to maintain an upward trend.
In short, Curve Dao is currently rising against the trend as the accumulation volume increases as buyers enter the market to buy on dips. With both retail and whale investors showing optimism, CRV looks set to see a trend reversal and the uptrend could continue.
If these conditions persist, CRV’s price chart could rise further and retake the $1.1 resistance level. However, if bears outweigh bulls again, CRV could drop to $0.69.
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