CRV Technical Analysis: Fallout Rally Challenges 100-day SMA

The CRV price drops below the ascending support trendline and attempts to take at the 100-day SMA. Will this downtrend continue to $1? Key Technical Points: The Curve Dao (CRV) price dropped by almost 10% in the last 24 hours resulting in the expanding channel fallout. The market price approaches the 100-day SMA to seek bullish refuge and attempt a reversal. With a market cap of $673 billion, the intraday trading volume of Curve Dao has decreased by 71% over the last 24 hours to reach $213 million. Past Performance of CRV As warned in our previous analysis, the CRV prices reverse from the psychological mark of $1.50 to break below the support trendline. In addition, the overnight drop of 9.68% in Curve Dao prices resulted in an Evening Star pattern and closed below the support trend line. However, the lower price reduction in the breakout candle and the follow-through candle projects the possibility of a bullish reversal from the 100-day SMA. Source – Tradingview CRV Technical Analysis The CRV technical chart displays the market price struggling to sustain above the $1.25 mark avoiding a drop to the $1.08 mark. However, the breakout rally may gain bearish momentum with the fall out of the 100-day SMA. As the Curve Dao market price falls, the possibility of a bullish crossover between the 50 and 100-day SMA decreases. The daily-RSI slope approaches the halfway line after falling below the 14-day average line. Hence the technica...