Lorenzo Stroe
Independent Analyst
- Curve DAO price seems to be contained inside an Adam & Eve pattern on the 1-hour chart.
- Bulls aim for a 10% price move to the upside if the pattern is broken.
The price action of Curve DAO has been notably different than most cryptocurrencies. CRV plummeted from $5.7 on September 1 to a low of $0.328 on October 25. The digital asset is currently trying to recover and it’s trading at $0.748 inside a bullish pattern awaiting a breakout.
Curve DAO price is only one resistance level away from $0.82
On the hourly chart, CRV seems to be trading inside what’s known as an Adam and Eve pattern, which is considered bullish. The resistance trendline is located at $0.75, which is fairly close to the current Curve DAO price at $0.733.
CRV/USD 1-hour chart
A breakout above $0.75 would quickly drive Curve DAO price towards a price target of $0.82, which is a 10% move. The In/Out of the Money Around Price (IOMAP) chart shows practically no resistance to the upside, which gives credence to the bullish outlook.
CRV IOMAP chart
On the other hand, it seems that there is a robust support area formed between $0.715 and $0.73, where 133 addresses purchased 62 million CRV. A breakdown below this significant support range could push Curve DAO price towards a low of $0.62.
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