, in the last month, CRV’s daily trading volume has increased by 200%. The surge in daily trading volume during the last 30 days hinted at the increased utility of the altcoin.The significant surge in CRV’s price in the last month led to a jump in the daily count of whale transactions exceeding $1 million. An increase in whale transactions for a cryptocurrency is commonly viewed as a bullish indicator and a sign of a strong belief in continued price growth.
It can indicate a decrease in market demand and investor interest. A price drawback typically follows this declining demand.A further assessment of CRV’s price movement on a daily chart revealed that key indicators Relative Strength Index and Money Flow Index , were pegged at overbought highs. While many might be led to believe that the rising price was conclusive proof that bullish sentiment lingered in the market, a look at the Aroon indicator showed that the bullish trend in the market had weakened severely.
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Source: CryptoAmb - 🏆 22. / 68 Read more »