CRV is the most effective performer amongst the highest 100 cryptocurrencies by market cap right now.
The rally comes because the broader cryptocurrency market continues its poor begin to the week.
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 the most effective performer amongst the highest 100 cryptocurrencies by market cap right now.
The rally comes because of the anticipation of Curve DAO launching its dollar-pegged stablecoin. The stablecoin is about to launch in June. Curve DAO revealed on Monday that an ongoing proposal can be required for crvUSD to perform autonomously.
If the proposal passes, stablecoin swimming pools will have the ability to provide pricing knowledge to exterior protocols
For sure – that is required for crvUSD to perform autonomously https://t.co/GFA5aXAjv0
— Curve Finance (@CurveFinance) February 13, 2023
This newest cryptocurrency information 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 overall 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 not too long ago crossed into the optimistic zone, indicating that CRV is presently bullish. The 14-day RSI of 64 additionally exhibits 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. Nevertheless, it might want the help of the broader cryptocurrency market to succeed in the $1.35 resistance degree within the close to time period.
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