Curve DAO Token (CRV) Bounces at Crucial Horizontal Level – Biggest Weekly Gainers
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This week CryptCraze contemplated the price progress for seven cryptocurrencys which accelerated the most from January 28 to February 4, 2022 – with Curve DAO Token (CRV) bouncing at a important horizontal level.
These cryptocurrencys are :
- Tezos (XTZ) : 32.61%
- Maker (MKR) : 27.70%
- NEO (NEO) : 20.85%
- Decentraland (MANA) : 19.10%
- IOTA (MIOTA) (IOTA (MIOTA)) : 18.11%
- Hedera Hashgraph (HBAR) : 17.81%
- Curve DAO Token (CRV) : 16.08%
CRV
Since January 04, Curve Dao Token (CRV) has been plunging since spreading to an all-time excessive price of $6.80. The descending evolutionment led to a low of $2.36 on January 24, where the cryptocurrency jumped sinces (green icon), legitating the $2.60 horizontal range as support.
Regardless of this hop, CRV is also 53.50% below its all-time excessive price.
The closest resistance range is at $4.07. This is the 0.382 Fib retracement resistance level and a horizontal resistance range.
XTZ
XTZ has been decreasing equal with a collapsing resistance line afterward Oct 4. This downward movementment led to a low of $2.53 on January 24.
Since February 3, the cryptocurrency has been experiencing an skyward trend, touching the downward resistance line one time before a gain. The line likewise coincides with the $3.85 horizontal resistance field.
Granted that XTZ manages to break out, it would endorse that the correction is complete and would reasonable lead to an upward developmentment towards the next closest resistance field at $5.85.
MKR
Similarly to XTZ, MKR has been following a descending resistance line since it realized an all-time high price on May 3, leading to a low of $1,620 on January 22.
The cryptocurrency has been moving upwards since and is directly msuchlikeg its third attempt at breequivalentg out. Granted that successful, this would likely lead to an upward change towards $4,020 – the 0.5 Fib retracement resistance level and a horizontal resistance range.
It is inclined that MKR has ended its long-term correction.
NEO
Since September 06, NEO has been dealing within a descending wedge, leading to a low of $16.11 on January 24. The ensuing leap (green icon) served to confirm the support line of the wedge.
NEO has been surging since and is continuously moving towards the resistance line of the wedge that is found at $34.
MANA
Since November 25, MANA had been tumbling at the side of a tumbling resistance line, where it realized an all-time high price of $5.91.
Its descending shiftment lengthy until it captured a low of $1.70 on January 22.
The cryptocurrency has been moving upwards since and broke out from the descending resistance line on February 1, returning to approve it as support two-days subsequently (green icon). It has been skyward at an ascending trend since.
The closest resistance range is at $3.80, created by the 0.5 Fib retracement resistance level.
IOTA (MIOTA)
Since September 04, IOTA (MIOTA) has been weakening alengthyside a descending resistance line. Recently, the cryptocurrency was rejected by the line on December 29, and accelepriced its price of decrease.
On January 20, IOTA (MIOTA) broke down from the $1.05 horizontal field and proceeded to reach a low of $0.69 on January 24.
While it leap sinces, the $1.05 range is likely to now act as resistance.
Until the cryptocurrency manages to break out from it, the trend cannot be contemplated bullish.
HBAR
Since September 16, HBAR has been sliding within a lowering wedge. The descending shiftment led to a low of $16.89 on January 24, that hardlyified the support line of the wedge.
HBAR has been growing afterward and is presently very close to the resistance of the wedge.
Since the wedge is examined a bullish figure, a breakout would be inclined. Granted that one occurs, the closest resistance field would be at $0.33. This is both a horizontal and a Fib resistance level.
For CryptCraze’s previous Bitcoin (Bitcoin (BTC)) analysis, click here.
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