Curve Dao Token (CRV) Soars 14%, What’s Driving the Rally?
• Curve Dao Token (CRV) is the best performing top 100 cryptocurrency by market cap today.
• CRV has rallied due to anticipation of Curve DAO launching its dollar-pegged stablecoin in June.
• If the rally is sustained, CRV could surge past the first major resistance level at $1.18 before the end of the day.
Curve Dao Token (CRV) Outperforms Cryptocurrency Market
CRV, the native token of the Curve DAO ecosystem, is currently the best performer amongst top 100 cryptocurrencies by market cap today. The rally comes as anticipation builds for Curve DAO launching its dollar-pegged stablecoin in June.
Technical Indicators Show Bullish Sentiment For CRV/USD
The CRV/USD 4-hour chart has turned bullish as Curve DAO has outperformed the broader cryptocurrency market over last 24 hours. The technical indicators such as MACD and RSI both show that CRV is currently in a strong bullish position. The 14-day RSI of 64 suggests that if this rally continues, it will push CRV into overbought territory soon.
What Are Key Levels To Watch?
If this rally is sustained, then we can expect to see CRV surge past its first major resistance level at $1.18 before end of day today. However, for it to reach next major resistance level at $1.35 near term, it needs support from broader cryptocurrency market too.
Where To Buy Curve DAO Token Now?
eToro offers a wide range of cryptos – such as Bitcoin and XRP – which includes buying and selling of curve dao tokens too! Thus making it convenient and safe way to buy curve dao tokens now!
In conclusion, with positive news surrounding launch of crvUSD stable coin and technical indicators turning bullish – we can expect to see more bullish movement in price of curve dao tokens in coming days! As always – be sure to do your own research when investing into any crypto asset or token!