Curve DAO Price Forecast: CRV targets a 50% upswing thanks to massive interest from whales
- Curve DAO price is on the verge of a massive 50% push, according to various indicators.
- The number of whales holding CRV has significantly increased in the past two weeks.
- The digital asset must reconquer a key resistance level for the bulls to gain the upper hand.
Curve DAO had a colossal 56% correction from its all-time high of $3.66 on February 6. However, whales have taken advantage of low prices to accumulate even more CRV, a bullish indicator in the long-term for the digital asset.
Curve DAO price must hold above key level
On the daily chart, Curve DAO has attempted to climb back above the 26-EMA, a key support level throughout the previous bull rally. A candlestick close above this point could drive CRV towards its previous all-time high of $3.66.
CRV/USD daily chart
More importantly, is the fact that the number of whales holding between 100,000 and 1,000,000 CRV ($240,000 and $2,400,000) has exploded by 20 in the past two weeks, indicating that large holders believe CRV will rise even higher.
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CRV Holders Distribution
On the other hand, a rejection from the key resistance level on the daily chart might lead the digital asset down to the 50% Fibonacci retracement level at $2, which is also a psychological level.
Author
Lorenzo Stroe
Independent Analyst
Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.
