Bear Trap Triggers Recover Opportunity for Curve Dao Coin (CRV)

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Brian Bollinger The Curve dao coin price rebounded from $0.4 psychological support after a huge surge in volume. This sudden bullish reversal saw the price rebound from $0.4 psychological support. However, buyers were able to regain support at $0.534, which could help them lead a price recovery. What is the likely direction of the bullish rally?advertisementKey points
Multiple resistance could be provided by the overhead EMAs (20, 50, and 100), which could prevent a rally from happening.
The intraday trading volume for the CRV token was $629.5 Million. This indicates a 1000.5% gain.
Source: Tradingview After the FTX crypto exchange crash, Curve dao coin prices experienced a severe sell-off. They plummeted to $0.535, the June bottom support. The altcoin’s continued selling led to further collapse. On November 20th, the CRV price fell below the $0.535 support. This indicates that the sellers are confident of reaching lower levels. The altcoin saw a sudden bullish reversal, hitting the $0.4 mark. This drove the price above the breached resistance. Trending StoriesThe Curve dao cryptocurrency price is currently trading at $0.6, with an intraday gain in excess of 21%. According to reports, the sharp price rise was caused by a crypto whale short squeeze. These whales must have exited their short position to increase buying orders in the market. Furthermore, the rise above the $0.535 support suggests a fake collapse scenario. This price rally could also force more short sellers to sell off their positions by hitting their stop loss. AdvertisementEMAs: The downsloping EMAs (20, 50, 100) indicate a downtrend. The rising price of Curve Dao Coin may soon reach 20-day EMA, adding additional selling pressure.
Trend: Bullish
Volatility: High,
Resistance levels: $0.685 and $0.8
Support levels: $0.535 and $0.4
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The content presented may contain the author’s personal opinion and is subject to market conditions. Before investing in cryptocurrency, do your market research. Close Story