The year 2022 has started off minimal volatility while the trend is still mostly bearish. BTC still swings around $47K level and ETH around $3.7K level. Most altcoins on the chart trade in green today. Leading the race with FTM(+11.7%) and ONE(10%).
Michael van de Poppe, a well-known cryptocurrency analyst and trader, believes that one decentralised finance (DeFi) altcoin based on Ethereum (ETH) is poised for a breakthrough at the start of 2022.
The Curve DAO Token (CRV) is currently printing a bullish market structure, according to Eight Global, Van de Poppe’s crypto education site.
The analyst thinks that CRV has a lovely chart and is one of the better-looking coins right now. The USDT is producing higher lows and higher highs, and it appears that it will try to break over the 1.618 fib level once more.
CRV has a potential upside of about 53% from its present price, according to Van de Poppe’s target price of $8.35.
CRV Price Analysis
Curve Finance’s governance token, CRV, is a decentralised exchange for stablecoins that intends to draw deep liquidity to ensure low slippage. By market cap, it’s the 74th most valuable cryptocurrency.
At the time of writing, CRV is trading at $6.21 up by 10.5% in the last 24 hours. The resistance on the upside is at $6.31 and the support is stationed at $6.
As for the technical indicators, the RSI is valued 67.3 signalling a Neutral action. However, the moving averages indicate a strong buy signal as 14 out of 15 averages signal a buy signal.