Lorenzo Stroe
Independent Analyst
- Curve DAO price conquered a key resistance level on March 1.
- The digital asset faces one last crucial level before a breakout towards $3.
- The number of whales joining the network demonstrates great interest in the digital asset.
Curve is one of the most popular yield farming platforms with around $3.3 billion in crypto locked inside. CRV is up by more than 40% since its local bottom of $1.62 established on February 28 and aims for a full recovery.
Curve DAO price must regain this key level to see $3 again
On the 4-hour chart, CRV managed to climb above the 26-EMA resistance level on March 1 but got rejected from the 100-SMA once again. This last key resistance point has rejected Curve DAO price since February 15.
CRV/USD 4-hour chart
A clear breakout above the 100-SMA at $2.4 should push Curve DAO price towards $3 again, especially with the help of the whales. The number of large holders with 1,000,000 to 10,000,000 coins ($2,300,000 to $23,000,000) has increased by five sine the beginning of February.
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CRV Holders Distribution chart
On the other hand, another strong rejection from the 100-SMA and a breakdown below the 26-EMA would be devastating for CRV holders. The digital asset could fall towards the previous local bottom of $1.62.
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