CRV eyes $0.5 among whale stocks: check the forecast
Key receivers
Despite the ongoing market correction, CRV rose less than 1 percent.
As the bulls continue to rally, the coin could reach the $0.5 psychological level.
Curve DAO is high at $0.40.
Curve DAO (CRV) is trading above $0.40 after adding more than 8% to its value in the last 24 hours. It is facing resistance at $0.433 after recording excellent gains in recent times.
The performance of the energy comes in the middle of the whale stock. According to Santiment's Supply Distribution data, whales holding between 10 million and 100 million CRV tokens (blue line) accumulated a total of 33 million CRV tokens between early January and Thursday.
However, wallets holding between 100,000 and 1 million ADA tokens (red line) and between 1 million and 10 million CRV tokens (yellow line) lost 29 million tokens.
Additionally, Sentiment's Daily Active Addresses Index, which tracks network activity over time, also points to bullish bias. An increase in scale can be seen in the use of blockchain.
CRV's daily active addresses rose from 945 on December 26 to 1388 on Thursday, the highest level since October 14.
CRV can extend profits beyond $0.5.
The CRV/USD 4H chart is bearish and bullish despite the coin's recent bullish move. CRV retested the weekly resistance level at $0.433 and has now declined to trade at $0.414.
At press time, CRV is trying to break above the weekly resistance level. If that happens, CRV could extend its rally to the November 10 high of $0.548, which coincides with the 200-day EMA.
The Relative Strength Index (RSI) on the 4-hour chart reads 51, above the neutral level of 50, indicating bullish momentum.
Finally, the Moving Average Convergence Divergence (MACD) indicator shows a bullish cross, adding further bullish convergence to the coin.
If the market correction continues, CRV may drop to a year low of $0.357.
