CRV Price Eyes Another Move as Curve Finance Raises Disclaimer

• Curve Finance advised its community not to download an app masquerading as its official product.
• If CRV breaks above the $0.55 resistance, the price might head toward $0.60.
• Buying pressure in the long run could push CRV as high as $1.15 in the long term.

Decentralized exchange and Automated Market Maker Curve Finance (CRV) have distanced themselves from a certain “Curve App,” which was listed on the Apple Store. According to the post, a Curve Finance app appeared in the store with the project’s logo.

Looking at the details, it was developed by “MK Tech,” while Curve called the product a scam. At press time, CRV’s price was $0.58, indicating a 10.87% increase in the last seven days.

As of February 4, CRV was trading at $0.44. But hitting this price implied that bulls had support to depend on a further increase. By February 12, CRV had breached the $0.50 psychological resistance.

 

Another 10% Is On the Cards

In the 4-hour timeframe, CRV seemed ready to approach the next resistance area, which was at $0.55. Indications from the Supertend showed that a buy signal appeared around $0.48. This was because the green section of the indicator was below CRV’s value.

If the Supertrend was above $0.53, it would have been a sell signal. Should buying pressure increase for the token, then the price might cross resistance. A successful break above the $0.55 resistance could drive a 10% increase that probably takes the CRV to $0.60.

Furthermore, the Relative Strength Index (RSI) reading had increased. At press time, the RSI was 68.21, suggesting that bulls were in control of the token direction. If the RSI crosses 70.00, the CRV might hit an overbought point. 

CRV/USD 4-Hour Chart (Source: TradingView )

 

CRV Targets $1.15 In the Long Run

Should this be the case, the price might retrace to $0.50. However, a pullback to $0.50 might serve as a good entry. If buying momentum continues to increase at this point, then CRV might climb or surpass $0.60.

On the daily timeframe, the Awesome Oscillator (AO) had moved to the positive region. An assessment of the AO showed that the indicator had formed a bullish twin peak. This was a sign of increasing upward momentum.

In a highly bullish case, CRV’s price might extend its gains and cross $1.05 in the mid-term. In the long run, the price might climb as high as $1.15, as this was where the 4.236 Fib level was.

CRV/USD Daily Chart (Source: TradingView )

In the short term, CRV might add another 10% to 15% over the next few days. However, a reversal might also occur in the process.