Is Curve DAO Token Hitting $1 on the Horizon as Token Surges 21% in Single-Day?

• Curve DAO Token has factored in a price increase of 21.16% in the last 24 hours
• The altcoin’s daily trading volume surged by 40.10% as per CMC data.

The crypto community has been through a rollercoaster of emotions over the last few weeks. As they began to deal with the frustration of prolonged consolidation, the market crash was another major hit. However, the regulatory sector has continued to remain vibrant over the past few days

Additionally, particular altcoins have also seen significant upward movements after Monday’s market crash. One such altcoin is Curve DAO Token, which saw significant upward movements particularly, in the last 24 hours. The altcoin has factored in a price surge of 21.16% over the past day

This has caused it to climb from a low of $0.5042 to current trading levels. The bullish candles have aided Curve DAO Token to reach an intra-day high of $0.6058. Following this, it corrected to the $0.5 level for a few hours. At the time of writing, CRV was trading at $0.6164 as per CMC data

Over the consolidation period, Curve DAO Token was trading at the $0.54 level. With the significant market crash it experienced freefall that tested a support of $0.3993. Although it began its recovery shortly after, it was not until the past day’s surge did it see notable upward movements

Will Curve DAO Token Hit $1?

On analyzing its recent price movements, Curve DAO Token shows positive signals. The pattern traced is an ascending channel pattern which suggests further upward movements. Additionally, its technical indicators also show signs of positive trends

CRV/USDT 4H Price Chart (Source: TradingView*)*Its Chaikin Money Flow (CMF) indicator value stands at 0.01. This highlights an increasing inflow of capital into the asset. Further confirming this statement is CRV’s RSI. Its RSI value stands at a high of 74.44 as per TradingView data

This suggests an overbought market situation and a subsequent positive sentiment among investors. If CRV sustains the positive momentum it might hit $1 soon. Meanwhile, other altcoins such as Ethereum and OnyxCoin have shown varied price movements

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