InstaForex

July 3, 2021

Will Curve Finance Be The Grab And Pioneer Of The Crypto Market?

 Curve Finance is a decentralized exchange platform for stablecoin that uses an Automated Market Maker (AMM) that manages liquidity and offers token exchange at low cost and slippage rates.


Launched in January 2020, Curve continues to be synonymous with the financial decentralization (DeFi) phenomenon and has seen significant growth by mid -2020.


In August, Curve launched the Decentralized Autonomous Organization (DAO) and the CRV became a ‘token’ to the Curve network.


The founder and CEO of Curve is Michael Egorov who is a Russian scientist with experience in cryptocurrency related enterprises.


In addition, Curve Finance obtained positive factors that are likely to support aggressive price increases.


As can be seen on the CRV/USDT chart,


Towards the end of the June market, CRV prices returned to a positive pattern of movement after recording a jump of more than 50% before declining slightly when entering the July market.



However, the reaction of the CRV price at the opening of the July market is seen to have re -tested the level of RBS (resistance become support) around $ 1.60 and continues to give early indications to continue the bullish trend.


If the price movement manages to maintain the uptrend, the SBR (support become resistance) level of $ 1.95 will be the focus level to be tested.


If the price movement continues to break the SBR level of $ 1.95, it is expected that the CRV price will head to the next SBR zone around $ 2.20- $ 2.30 before the expectation to make a higher rise.


Whereas if the CRV price does not manage to continue rising, the $ 1.25 support level will remain the key level that will be tested to re -support the price surge.


On the other hand if the price continues to make lower declines, the price is expected to head towards the focus zone around $ 0.80- $ 0.90 which is a difficult zone to penetrate during the rise at the opening of the 2021 market.


As of 4.30pm local time, the CRV price is down more than 4% to trade above the $ 1.62 level.