CRV price at the time of writing is different from what it was a few days ago. A closer look at the charts suggests that the altcoin is yet to register any significant gains since the current intraday session started.
The global cryptocurrency market cap hints at the fact that the previous token is not the only asset facing this situation. Almost all cryptos are at their opening price or far from it. As a result, the total worth of the crypto market is failed to change over the last twenty hours.
Nonetheless, the sector under consideration had notable volatility during the previous week. It kicked off the session at $1.05 trillion. As the first intraday session progressed, it surged to its highest. It peaked at $1.08 trillion but started retracing afterward. It returned to its peak on Tuesday and held it until Thursday when it finally dropped below it.
The global cryptocurrency market ended the previous week at $1.05 trillion. This showed that in the end, most cryptos failed to hold on to their gains and returned to their opening prices.
The first 20 hours of the new intraweek session is painting a small picture of the next six days hold. Let’s examine the top coins to watch.
Top Three Cryptocurrencies to Watch
BTC/USD
Bitcoin saw very little price movement during the previous seven-day period. Due to this, the apex coin closed another session with no notable change in value. The candle representing the trading action was a hammer which indicates that BTC made attempts at key resistance.
One such trial took place on Monday when the largest cryptocurrency by market cap opened trading at $26,533 but experienced small increases in buying volume that saw it try to test $28k. However, it failed as it faced strong rejections at $27,422. Afterward, it retraced to a close at $26,770.
Another attempt took place during the next intraday session as the coin slowly approached the highlighted resistance but experienced strong corrections at $27,486. This also marked the highest of the week. Nonetheless, the apex coin dropped to a close at $27,214 but failed to register any significant change in worth.
On Thursday, BTC had its biggest move as it retraced from $27,100 to a low of $26,376 but recovered and closed above $26,500; losing more than 2% in the end.
With a focus on the current week, bitcoin is off to a good start as it is seeing its first green. This comes after it briefly dropped below the $26k support, to a low of $25,977. Currently above its opening price, the asset is looking to edge closer to $27k.
However, there are indications that BTC may retest the $25k support soon. One such is the Moving Average Convergence Divergence. A closer look at the indicators hints at an ongoing bearish convergence. With an impending divergence, the largest cryptocurrency may experience notable downtrends in the coming days.
ETH/USD
Ethereum also saw very little volatility over the last seven days. As a result, it returned to levels it left two weeks ago. It also registered losses of almost 3% in the end. The loss marks the biggest the coin has registered since August.
The previous seven-day period started with the altcoin at $1,623. A closer look at the candle shows an extended wick to the top which signifies an attempt at resistance. The momentum was short-lived as it faced a strong rejection at $1,669. As a result, it retraced and closed almost at its opening price.
The biggest bearish move took place on Thursday as ETH kicked off trading at $1,622 but suffered a notable increase in selling volume. Due to this, it tested the $1,600 support and broke it; dipping to a low of $1,568. Although it saw a slight recovery, it ended the session with losses of more than 2%.
Ethereum may see more downtrends this week. MACD is currently blaring warnings. At the time of writing, the 12-day EMA is gradually edging toward the 26-day EMA in what many describe as a bearish convergence. A divergence will soon follow which may seal the bearish signal.
One key level to watch is the $1,500 support. Based on previous price movements, retesting this critical mark will not be sudden as there is a strong demand concentration at $1,540.
CRV/USD
Curve DAO was the top gainer during the previous intraweek session. It gained almost 20% during this period as it crushed several barriers and reclaimed levels it hadn’t in more than fourteen days.
One of the main highlights of that session took place on Friday when the asset opened trading at $0.44 but enjoyed a spike in buying pressure. As a result, it made an attempt at the $0.50 resistance with success as it peaked above it but failed to gain stability. Nonetheless, it closed with gains of more than 10%.
Another highlight took place on Sunday. The token started trading at $0.47 and surged to a high of $0.56. However, it retraced and closed at $0.51 which signified a more than 8% change in price.
With a focus on the new week, CRV may suffer more retracement in response to the massive gains it had last week.
