<em><strong>The CRV Technical Analysis offers a selling opportunity as the breakout rally of the consolidation range gains momentum to reach $0.68.</strong></em>

The CRV price action highlights an increase in the bearish influence over the consolidation range resulting in a bearish breakdown. Furthermore, the price action displays the daily candle gaining bearish momentum, signaling a selling opportunity for sideline traders. So, will the downtrend reach the bottom support level of 0.68?
<h3>Key Points:</h3>
<ul>
 	<li>The <a href="https://www.cryptoknowmics.com/news/curve-dao-token-price-prediction-2022/" target="_blank" rel="noopener">Curve Dao</a> price action shows a bearish breakout entry opportunity.</li>
 	<li>The price jump crosses under the $0.84 support level.</li>
 	<li>The intraday trading volume in Curve Dao is $45.67 million.</li>
</ul>
<img class="alignnone" src="https://s3.tradingview.com/snapshots/e/evyTWDyH.png" alt="CRV Price Chart" width="2314" height="1139" />

Source - <a href="https://www.tradingview.com/x/evyTWDyH/" target="_blank" rel="nofollow noopener">TradingView</a>
<h2>CRV Technical Analysis</h2>
As mentioned in our <a href="https://www.cryptoknowmics.com/news/crv-technical-analysis-will-this-rising-channel-sustain-above-4-5" target="_blank" rel="noopener">previous analysis</a>, the increasing bearish influence led to a bearish breakout of a consolidation range in the CRV prices. Additionally, the declining trend responsible for the bearish breakout accounts for a 10% drop last week.

The downtrend increases the bearish momentum in the crucial daily EMAs (50,100,200), reflecting a solid underlying bearishness.

Currently, the daily candle shows a 2.86% drop and crosses under the support level of $0.84, signaling a selling opportunity. However, the lack of trading volume questions the bearish credibility, which might result in a bounce back above $0.84.

If the selling pressure grows over the day, the Curve Dao market price will drop to $0.68, accounting for a 20% decline. Conversely, if the bullish momentum increases, a reversal will dump the CRV prices to the 50-day EMA at $0.98.
<h2>Technical Indicators</h2>
The RSI slope declines in the nearly oversold zone as it crosses below the 14-day SMA to approach the oversold boundary. Moreover, the fast and slow lines signal a bearish crossover as they merge in the negative territory while the bullish histograms decline to the zero line.

Therefore, the CRV technical analysis suggests that traders can find a selling opportunity at current prices.

Resistance Levels - $0.84 and $0.98

Support Levels - $0.68 and $0.55

CRV Technical Analysis: Consolidation Breakout Warns 20% Drop 

The CRV technical analysis offers a selling opportunity as the breakout rally of the consolidation range gains momentum to reach $0.68.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

CRV Technical Analysis: Consolidation Breakout Warns 20% Drop

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