The knee jerk move of Bitcoin seems to have woken the altcoin market this Wednesday, with several altcoins on the radar appearing to get set for big moves.
One of the coins being watched is the Curve DAO token. The daily chart shows an unravelling setup, which began with price showing a bullish flag within the ascending channel.
The resumption of the upside move came off Monday’s bounce around 1.795, with a follow-up candle violating the 2.012 resistance (lower border of the prior descending triangle of 2-18 June).
With price now testing the channel’s return line on the back of general bullish sentiment around altcoins, what is the Curve coin price prediction?
CRV Coin Price Prediction Outlook
With the violation of the return line of the ascending channel, the CRV coin price prediction has a bullish component. If the active candle closes above that border, this adds fillip to the outlook. This move would allow 2.378 to come into the picture as the initial target for bulls. Above this level, 2.576 and 2.862 become additional upside targets.
On the flip side, the Curve DAO token could suffer a retreat of the bullish break of the channel turns out to be a fakeout. In this case, 2.012 becomes the initial downside target. If the price fails to bounce off this level, 1.795 becomes the new target, followed by 1.508.
CRV/USDT: Daily Chart
Follow Eno on Twitter.