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Curve DAO Token Price Prediction: CRV Plunges to September Lows

 


Curve DAO token price plunged to the lowest level since September 2021 as the crisis in Ukraine continues. The CRV token is also falling as market activity persists in the ecosystem. It is trading at $2.04, which is about 71% down from this year's high.


geopolitical tensions

Curve DAO is a leading decentralized finance (DeFi) platform that allows people to trade their stablecoins. The platform uses an automated market maker (AMM) and liquidity pools to exchange its coins.


Curve Finance was originally developed using Ethereum's technology but has expanded to other chains such as Avalanche, Polygon, Fantom, Harmony, among others.


According to DeFi Llama, Curve Finance has a total value (TVL) of over $18 billion. The value has been on a downtrend for the past few months after peaking at around $24 billion in November.


The main reason why the Curve Finance token price has plummeted today is the ongoing tensions in Ukraine. Early Thursday morning, President Vladimir Putin announced that his military would be deployed to Ukraine, which could provoke war in the region.


As a result, all other financial assets have fallen sharply in the last 24 hours. For example, Bitcoin is down more than 7% while Ethereum is down more than 12%. Overall, cryptocurrency prices have plummeted to around $1.65 trillion.


The same trend is taking place in other markets. Futures linked to the Dow Jones are down more than 600 points, while the Nasdaq 100 index is down more than 340 points. In Asia, the Hang Seng and Nikkei 225 are down more than 3%, while the DAX and CAC 40 are down over 2%.


The daily chart shows that the CRV token price has been in a strong downtrend for the past few months. As a result, the coin has managed to move below the ascending trend line shown in blue. It has also moved below the 25-day and 50-day moving averages, while the MACD has fallen below the neutral level.


Therefore, there are chances that the Curve DAO token will continue falling as the bears target the next key support level at $1.50.

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