Rising Prices Breaks $1 Resistance; is $1.3 Next?

The Curve Dao (CRV) price continues its north march by knocking out higher resistance levels. These breached resistances flipped to suitable footing, replenishing the ongoing bull run. Furthermore, the altcoin has recently pierced $1 resistance, suggesting another leg up. When can you enter?

Key points:

• The CRV price jumped 28% in the past three days
• The MACD indicator slopes enter the bullish territory
• The intraday trading volume in the CRV token is $120.9 Million, indicating a 15% drop.

Source- Tradingview

For nearly a month, the CRV/USDT pair has steadily risen with new higher highs and higher lows. The altcoin bounced back from the $0.536 mark, registering a 108% gain, and currently trades at $1.12.

On July 14th, the CRV price gave a decisive breakout from the $1 psychological resistance with a significant pump in volume. Thus, the volume rise reflected the buyer’s interest in the higher prices, suggesting a legitimate breakout. 

However, today the CRV price is down 3.94% and offers a retest entry opportunity for interest traders. If the altcoin shows sustaining above the newly acquired support, the replenished bullish momentum will continue the upward march.

The potential rally should surge 18.5% higher to $1.3 resistance, followed by $1.5.

On a contrary note, if buyers fail to sustain above the $1 support, the CRV price may witness an extended correction.

Technical analysis

Bollinger band indicator: The CRV constantly testing the indicator’s upper band projects aggressive buying from the trades. Moreover, in case of occasional pullback, the midline should act as viable support. 

MACD indicator: The fast and slow line jumps above the neutral line, providing additional confirmation of the $1 breakout. Furthermore, a significant gap between these slopes indicates sustained buying

• Resistance levels- $0.1.3, and $0.1.52
• Support levels- $1 and 0.86