Curve Finance: Could CRV Stay With the Bears Longer Than Expected?

  • Curve Finance’s CRV has not seen the best price movement in the past 30 days and has not shown any signs of recovery
  • The series’ CRV gauges were also riddled with lowers and hibernation

Curve Finance [CRV]which was undergoing a good performance few months ago, it has lost 30.95% of its value in the past 30 days. according to CoinMarketCapThe token is trading at $0.526 at the time of publication.

The data reflected the mediocre state of the on-chain liquidity provider as its 24-hour performance was nowhere near stellar. The price tracking platform showed that CRV lost 3.61% of its value from the previous day. But was there anything CRV investors were looking forward to despite this terrible offering?

over here Curve Finance [CRV] predict the price 2023-2024

There is no way forward yet

According to the four-hour chart, there was no clear path for CRV to exit the sprint it was currently offering investors. This conclusion was based on the position shown by the exponential moving average (EMA). At the time of publication, the 20 EMA (blue) is below the 50 EMA (yellow).

This situation indicates signs that the CRV will remain in the red. Therefore, CRV was very likely to remain bearish in the short term. However, the indicators from the 200 EMA (purple) have been a relief over the long term.

Since it held its place at both the 20 and 50 EMA, long-term CRV holders can expect that the losses will not continue if they are patient enough.

Source: feeling

Despite the upside, short-term investors may have to live with bearish signs. Based on the above chart, the Relative Strength Index (RSI) showed that the CRV’s momentum was being controlled by selling.

With the RSI at 32.48, the indicator was in the oversold territory. While it was expected that there would be a shift in the future, it was not. This was because On Balance Volume (OBV) showed an uninspiring cash flow of 93.36M.

So the most likely condition for choosing CRV may be staying in the bearish zone.

Through TVL standing and networking skills

According to Total Value Locked (TVL) status, it can impress CRV. according to DeFiLlamaTVL is valued at $3.78 billion at the time of writing. Like price, TVL represented a 33.62% decline in the last 30 days.

Notably, CRV, which has been vying for the top spot on the DeFi table, has been in a long battle. This indicates that investors have invested very little in the liquidity pool of the curve series over the period.

CRV Total Value Locked (TVL)

Source: DeFi Llama

Moreover, an evaluation of its series showed that network growth had shifted from inhibitory to regression. According to Santiment, it was the network’s growth decreased to 305.

This reflects that new addresses cannot interact with the Curve Network. For 24-hour active addresses, Santiment showed it dropped to 1,129. This means that fewer deposits were made via the Curve Network compared to November 18th and 19th.

CRV network growth and active addresses

Source: feeling

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