Bancor and Curve prices are under pressure. Specifically, CRV/USDT could crater to $1.5 while BNT/USDT finds support at $3.
The multi-chain DEX is one of the front-runners in the space using BNT as its native token.
BNT prices are inching higher, but facing insurmountable resistance at around $3.5.
Technically, BNT sellers are in control, even though the narrative could shift if there is a convincing, high-volume close above the descending wedge and the 20-day moving average of the BB.
Presently, BNT is down five percent against the USD, with relatively light trading volumes up to around $30 million on the last trading day.
Overly, BNT/USDT prices are printing higher highs inside a descending wedge capped by the middle BB and June 21 highs.
From a volume analysis perspective, sellers have the upper hand.
However, if BNT bulls close above $3.5, it may catalyze a new wave of demand as prices reverse from H1 2021 pits.
The zone between $3.5 and $4 represents resistance. If BNT bulls are to take charge, a close above this zone is necessary. This will open up BNT for $6 in the medium term.
On the reverse side, losses below descending wedge and $3 may see BNT/USDT dump down to $2.5.
The protocol enables the trustless swapping of stablecoins. CRV is the platform's governance token.
The CRV price is trickling lower, dashing bulls.
Still, there could be hope if losses of yesterday and the better part of last week are stymied in a relieving rallying, shifting momentum in favor of buyers.
Currently, CRV is under pressure, dropping approximately seven percent versus the greenback on the last trading day.
The path of the least resistance has been established, and sellers appear in control.
From the daily chart, CRV/USDT prices are oscillating within the $1 zone, with support at around $1.5 and resistance at $2.5.
A confirming close above $2.5 completes the W-pattern following the double-bottoms of May and June 2021.
Losses of July 12 is a follow-through of the three-bar bearish reversal pattern of July 6 to 8.
Ideally, sellers may unload on every retracement targeting $1.6 or June 2021 lows.
On the reverse side, a surge above $2 and $2.5 invalidates losses of July 8, affirming determined CRV/USDT bulls.