2022 has started with little volatility, and the trend remains largely gloomy. BTC is still hovering around the $47,500 mark, while ETH is hovering around the $3.7,500 mark. Today, most altcoins on the chart are trading in the green. FTM (+11.7 percent) and ONE are leading the race (10 percent ).
One decentralized finance (DeFi) altcoin based on Ethereum (ETH), according to Michael van de Poppe, a well-known cryptocurrency analyst and trader, is positioned for a breakthrough at the start of 2022.
According to Eight Global, Van de Poppe’s crypto teaching site, the Curve DAO Token (CRV), is currently printing a bullish market structure.
According to the expert, CRV has a nice chart and is now one of the better-looking currencies. The USDT is making higher lows and higher highs, and it appears that it will once again try to break over the 1.618 fib level.
According to Van de Poppe’s target price of $8.35, CRV has a potential upside of around 53% from its current price.
CRV price analysis
Curve Finance’s governance token, CRV, is a decentralized stablecoin exchange that draws deep liquidity to ensure zero slippage. It is the 74th most valuable cryptocurrency in terms of market capitalization.
CRV is trading at $6.21 at the time of writing, up 10.5 percent in the last 24 hours. The upside resistance is $6.31, while the downside support is $6.
Regarding technical indicators, the RSI is currently at 67.3, indicating Neutral action. On the other hand, the moving averages show a strong purchase signal, with 14 out of 15 averages indicating a buy signal.