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CRV is one of the best performer amongst the highest 100 cryptocurrencies by market cap at the moment.
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The rally comes because the broader cryptocurrency market continues its poor begin to the week.
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CRV may rally towards the $1.2 resistance degree within the close to time period.
Curve DAO Token outperforms the market
CRV, the native token of the Curve DAO ecosystem, is one of the best performer amongst the highest 100 cryptocurrencies by market cap at the moment.
The rally comes due to the anticipation of Curve DAO launching its dollar-pegged stablecoin. The stablecoin is set to launch in June. Curve DAO revealed on Monday that an ongoing proposal could be required for crvUSD to perform autonomously.
If the proposal passes, stablecoin swimming pools will be capable to provide pricing information to exterior protocols
Needless to say – this is required for crvUSD to perform autonomously https://t.co/GFA5aXAjv0
— Curve Finance (@CurveFinance) February 13, 2023
This latest cryptocurrency news has seen CRV rally over the past 24 hours. At press time, the value of Curve DAO stands at $1.06, up by greater than 14% within the final 24 hours.
The rally comes because the broader cryptocurrency market continues its poor efficiency this week. The whole cryptocurrency market cap stands at $1.01 trillion, down by lower than 1% within the final 24 hours.
Key ranges to observe
The CRV/USD 4-hour chart has turned bullish as Curve DAO has been outperforming the broader cryptocurrency market over the past 24 hours. The technical indicators present that CRV is performing higher than BTC and ETH at press time.
The MACD line lately crossed into the optimistic zone, indicating that CRV is at present bullish. The 14-day RSI of 64 additionally reveals that CRV may quickly enter the overbought area if the rally continues.
If the rally is sustained, CRV may surge previous the primary main resistance degree at $1.18 earlier than the tip of the day. However, it will want the help of the broader cryptocurrency market to succeed in the $1.35 resistance degree within the close to time period.
Where to purchase Curve DAO Token now
eToro
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Public
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