The cryptocurrency market generally recovered on Wednesday and pushed its market cap to $860 billion. Litecoin price led the mid-week bear rally, in a move that brought its weekly cumulated gains to 37.4%. Dash also outperformed its peers with a 14.65% recovery. Although Curve DAO Token only managed a 3.78% increase in price on the day, this could be the beginning of a sustainable uptrend.
Despite the bullish wave across the market, analysts expect crypto assets to quickly give back the gains because of the risks associated with to the FTX crisis.
The fall of the $32 billion empire has left little to be desired about the young crypto industry, with investors likely to keep off in the foreseeable future. Analysts at Coinbase have predicted the crypto winter to last possibly until the end of 2023.
Nevertheless, there are selected crypto projects, some in their presales – presenting investors with a once-in-a-lifetime opportunity to make above-average gains. Tokens like Dash 2 Trade (D2T) and RobotEra (TARO) boast strong fundamentals ahead of their imminent listing on exchanges.
The bullish wave traversing the crypto market helped bulls spread their wings and paved the way for a sharp uptick in CRV price to $0.74. This northbound move started at $0.43 before buyers asserted their presence in the market.
Curve DAO Token's optimistic outlook followed a buy signal from the Moving Average Convergence Divergence (MACD), which currently holds in the positive region – above the mean line.
Currently, CRV price trades at $0.65 after sliding below the 100-day Exponential Moving Average (EMA) (in blue). A break and hold above the same level are necessary for CRV to stretch the leg to the 200-day EMA (in purple) at $0.74. After all, buyersRead more on cryptonews.com