- Curve DAO token price analysis shows an uptrend.
- The current support level has been established at $1.0.
- The key resistance level to break is seen at $1.20.
The Curve DAO token (CRV) is consolidating around $1.10 after a bullish Cup and Handle pattern formed on the daily chart. The technical pattern usually signals a continuation of an uptrend and implies that bulls will remain in control for the near future. The Curve DAO Token is trading at $1.10 after retesting the support level at $1.00 set at the beginning of the year.
The previous resistance has shifted to the support level, thus creating a higher low and suggesting that the price is trying to find its footing after a slow start this month. The technical indicators are backing up the bullish viewpoint as both the short and long-term moving averages have crossed over and the RSI is climbing above 65.
The bulls have their sights set on the key resistance level at $1.20, which is also the current peak for this asset and has remained intact since December 2022. The price action during the next few days will determine whether or not bulls can break past this level as a successful break out could open the door to even higher levels.
On the downside, if prices fail to break above $1.20, then the support level of $1.00 will be retested and could mark the end of this bullish trend for now. Nevertheless, ...
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