CRV has broken out from a long-term descending resistance line
It has also broken out from a short-term ascending parallel channel
CRV/BTC has moved above the 8,350 resistance area
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Curve DAO Token (CRV) has reclaimed the $4 horizontal resistance area and is now only 25% below its all-time high price. On Dec, CRV broke out from a descending resistance line that had previously been in place since April. This led to a high of $6.4 on Nov 25. While the token decreased afterwards, it validated this resistance line as support (green icon) on Dec 4 and bounced. Afterwards, it managed to reclaim the $4 horizontal area. Technical indicators for CRV are also bullish. The MACD, which is created by a short- and a long-term moving average (MA), is moving upwards and is positive. This means that the short-term MA is moving faster than the long-term one and is a sign of bullish trends. Similarly, the RSI has crossed above 50 (green circle). This is another sign of a bullish trend. The closest resistance is at the $6.40 all-time high. If successful in moving above it, the next resistance would be at $8.60, created by the 1.61 external Fib retracement resistance level when measuring the most recent drop. Cryptocurrency trader @TradingTank tweeted a CRV chart, stating that the price could increase all the way to $8. This fits with the resistance area created by the 1.61 external Fib retracement resistance level.