Bulls are preparing for big gains: the target for that Altcoin in Binance has been given!

Curve DAO (CRV) price, this week so far has made an increase of about 15 percent. Crypto analyst According to Manish Chhetri, TEknik indicators show that if the price of Altcoin exceeds its significant resistance at $ 0.55, it may experience a double -digit rise. In addition, On-Chain measurements support the rise.

For Curve Dao (CRV), cards have an increase in these levels!

The CRV price was rejected around the 200 -day exponential moving average (EMA) at $ 0.55 on Wednesday and fell by 8.92 %. This 200 -day EMA level coincides with the descending trend line, which has been drawn by combining multiple peaks with a trend line since the beginning of December. So, it makes it a strong resident zone. Therefore, a breaking bulls supports. During the article, CRV recovers and approaches the descending trend line.

If the CRV rises above the descending trend line and closes above the EMA level at $ 0.55, it may increase to $ 0.69 by extending the rally 23 %. A successful closing on it can earn an additional 20 %profit to re -test the high level of $ 0.83 on January 31.

CRV/USDT Daily Graphics

The relative power index (RSI) of the daily graph supports the rise appearance. After jumping from the 50 neutral level, it points to 55, which points up and shows the upward momentum. The moving average convergence separation (MACD) indicator also shows a rising transition last week and gives purchasing signals. It also shows that a rising trend continues.

On-Chain measurements also support the rise for Altcoin!

CRV’son-Chain measurements also coincide with the technically noted rise appearance. Long-short ratio of Coings for CRV 1.05. This ratio on one shows that more investors take positions to increase the price of subcoin. Therefore, this reflects the sense of rise for CRV.

CRV Long-Chart Ratio graph. Source: coinglass

In addition, the number of investors who receive positions will fall further in CRV, according to CONSI -weighted funding ratio data, is lower than the number of investors waiting for a price increase. This index is based on the returns of futures contracts weighted according to the Open Interest (OI) rates.

In the case of CRV, this measurement stops at 0.0079 %, reflects a positive rate, and shows Longs pay to Short. This scenario usually shows that there is a tendency to rise in the market and that the price of CRV is a potential upward pressure.

CRV OI Weighted Funding Rate graph. Source: coinglass