The CRV technical analysis displays a reversal of bullish momentum after a recent drop, with RSI indicating increasing selling pressure, while MACD is also on the upswing.

The daily chart of Curve DAO Token (CRV)  shows a reversal rally gaining momentum following a brief slash in the prices. After a spike of 49% over the 24 hours to reach a daily high of $0.72, CRV could not sustain the momentum and lost slightly during today’s early trading hours, with prices falling below $0.65. However, CRV prices were quick to consolidate between the tight range of $0.65 and $0.63, preventing the prices from falling further. However, prices pulled back at $0.61 narrowly escaping to breach the $0.60 support level.  CRV saw an unprecedented jump of 407.57% in market valuation to $338.30 million and a 52.31% surge in trading volume to $951.36 million. 
<h3>Key Points</h3>
<ul>
 	<li style="font-weight: 400">CRV price action shows significant reversal momentum after a recent plunge</li>
 	<li style="font-weight: 400">The daily chart shows a spike of 49% in the last 24 hours </li>
 	<li style="font-weight: 400">The intraday trading volume in CRV is $951.36 million</li>
</ul>
<img src="https://s3.tradingview.com/snapshots/q/Q7q3WPL4.png" alt="TradingView Chart" />Source: <a href="https://www.tradingview.com/x/Q7q3WPL4/" target="_blank" rel="nofollow noopener">Tradingview</a>
<h2>CRV Technical Analysis</h2>
The CRV price action maintains a bullish reversal trend despite the recent slash in the market. After briefly declining due to a sudden increase in selling pressure during early trading hours, CRV prices saw a pullback at $0.61. CRV prices sharply plunged below the 50-day EMA, but a recent recovery rally pulled the 50-day EMA to the support trendline, indicating an uptrend in the market. On the Fibonacci retracement level, the price rebounded from 38.20% and rose sharply to tease the 50% mark. If the bullish reversal manages to continue above $0.65, there will be buying opportunities for the sideline traders until prices break above $0.75, whereas if CRV loses strength it may fall below the $0.60 support level. 
<h2>Technical Indicators</h2>
Steeply moving above the halfway line while making a bullish divergence, with 14-day SMA falling below the 50 mark, at 56 RSI slope projects an increasing buying pressure. Moreover, MACD and signal lines continue building bullish momentum while making bullish crossover and closely skipping another on a rising bullish histogram.

The technical indicators show a significant amount of demand in the market supported by RSI with the moving average reflecting another round of upsurge, signaling buying opportunities for traders.

CRV Technical Analysis: Will This Bullish Reversal Sustain Above $1?

The CRV technical analysis displays a reversal of bullish momentum after a recent drop, with RSI indicating increasing selling pressure while MACD is also on the upswing.

Sanjay Shukla is a Content Writer with Cryptoknowmics, India's biggest media platform in crypto. He has more than 8 years of experience in the Business and Finance domains. Sanjay writes excellent content on cryptocurrencies, trading, Bitcoin, and the share market, to help the readers have deep insight into the topic.

CRV Technical Analysis: Will This Bullish Reversal Sustain Above $1?

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