- Curve continued to sink into the demand zone of $ 0.45 at the moment
- Although CRV holders of the past three months had to deal with losses, there were indications for accumulation since May
Curve dao [CRV] Was on the daily and weekly cards on the pressure at the time of the press. In a recent report, Ambcrypto actually noted that the CRV -Token had a bearish market structure. The sales pressure behind the token has not yet been relaxed, with the momentum that also remains Bearish.
Source: CRV/USDT on TradingView
The price clung to the Lower Bollinger band and repeatedly tested it as a support. The progressive average of 20 days has also been a resistance lately. The OBV emphasized the steady sales volume that Dao Bulls bowed, powerless to stop.
Without an inflow of persistent question, a bearish trend change would be difficult. However, there can be some hope. The zone of $ 0.45, marked in Cyan, was a bullish order block from the beginning of April. This is an area of demand that a bullish trend removal could see in the coming days.
At the time, the prize saw a strong bullish response from this region. Admittedly, Bitcoin’s [BTC] Recovery helped the meeting of CRV. Another Bitcoin rally can illuminate the sales pressure of the token. At the moment, however, the leading cryptos situation can be somewhat precarious.
On-chain situation emphasized a possible buying option
With the Curve DAO -to sinking to the Bullish Order block, the network statistics underlined a possible buying option. The weighted sentiment, which sentiment on the basis of social media involvement, was somewhat bearish.
The downward trend In the past month, the MVRV ratio saw steadily lower and was at -18% at the time of the press. This showed that CRV holders of the past three months losing losing. And yet, during this downward trend, the average coin age was higher.
The MCA saw a dip in the past week, but the upward trend can be a sign of network -wide accumulation. A walk in accumulation and holders in the event of loss showed that the price was on or close to a bottom.
Investors could buy CRV for cheap, according to these statistics. The metric consumed by the age also suggested a token movement in recent days, a sign of sale. However, the figures were not alarming and did not record a capitulation event.
Disclaimer: The presented information does not form financial, investments, trade or other types of advice and is only the opinion of the writer