- Curv Dao token prices have dropped 32% in just over two weeks.
- Its baisse -like structure and lack of demand meant that a case to $ 0.42 was likely.
Curve Dao Token (CRV) Be trends downwards in the past month, and heavy sales have not stopped.
Even if Bitcoin (BTC) Registered a few wins since Monday, CRV could not match the leading crypto performance.
It acted during the lowness on June 23, a proof of Björn’s strength. It seemed likely that a transition to $ 0.4- $ 0.42 would occur in June.
Curve token fails to hold on to $ 0.7, momentum fixed baisseart now
Source: CRV/USDT on TradingView
The rally in November and December was strong, but that weekly diagram revealed that the rejection came at exactly the top of the week from the beginning of 2023.
This suggested to a 30-month consolidation phase for Curve Dao. The November season in November failed to set up a trend on the weekly time frame.
Consolidation or interval formation (white), extended from $ 0.23 to $ 1.20. Over the past two months, CRV has tested the $ 0.82 resistance but has not been able to stay above the $ 0.72 middle class level.
This failure indicated the potential of a deep retracing, which may fall to $ 0.38 or even as low as $ 0.23.
Source: CRV/USDT on TradingView
On the daily time frame, Kurva DAO (CRV) shows a baisse -like market structure.
Earlier in June, the price tested $ 0.70 level, served as a delivery zone, but was rejected. Since then, CRV has decreased by 32%.
Chaikin Money Flow (CMF) has remained below +0.05 since November rally, which indicates persistent sales prints.
Similarly, on-balance volume (OBV) reflects a change in control to sellers, following a brief increase in demand at the end of March and early April.
A haussearted order block between $ 0.42 and $ 0.50 (marked in cyan) can act as a strong demand.
Bulls are expected to defend this region, and traders should look carefully for signs of a trend return here.
However, with moving average values that continue to indicate downward momentum, caution is recommended. Getting into long positions too early can be risky without confirmation of a turn.
Disclaimer clause: The presented information does not constitute financial, investment, trade or other types of advice and are the author’s opinion solely
