Curve DAO price forecast as CRV up 40% in 24 hours

The price of Curve DAO (CRV) is up 46% in the last 24 hours as whalers’ plans to short the altcoin have led to a squeeze. CRV is currently up 5% for the week and down 31% over the month. The short sellers undercut the price for more than a week before recovering in the last few days.

The seller in question appears to be Avraham Eisenberg, the same person responsible for October’s Mango Market short-selling attack. However, there is now speculation about Eisenberg’s purpose, whether CRV shorted or attacked Aave, who apparently lacks the liquidity to cover the CRV short positions he opened.

Curve price forecast as CRV rises 40% in 24 hours – here’s the next destination

Looking at the relative strength index (RSI) in purple, it has risen in the last few hours, indicating strong rising momentum. Its 30-day moving average (red) remains below the 200-day moving average (blue) and shows no signs of an increase at this time.

On the other hand, where both indicators remain low, it may signal a nascent rally, which is further supported by the previous day’s sudden rise.

CRV’s rally yesterday largely offset the declines of the previous week. On November 10, CRV was worth €0.713, now it has dropped to €0.407171 yesterday, due to the opening of a significant short position by Avraham Eisenberg (aka ponzishorter.eth).

The easiest interpretation of CRV’s price changes is that the community has started buying the altcoin to start a short squeeze, forcing Eisenberg to buy even more CRV as collateral to maintain his short position. This interpretation assumes that Eisenberg is only trying to short CRV and not trying to do anything else.

This could indeed be true, but some analysts have suggested that Eisenberg’s real target is Aave, from which he borrowed CRV and opened his positions. Eisenberg is specifically aware that Aave does not have enough liquidity to buy back its short positions in CRV and thus liquidate it.

According to research firm Arkham, Aave only has 20% of the liquidity needed to liquidate Eisenberg’s short. It believes that the inability to buy back the positions will hurt the DeFi platform, forcing it to sell other tokens (likely AAVE) to compensate for the shortfall.

However, AAVE is currently up 8% in the last 24 hours, undermining this theory. Also, reports suggest that Eisenberg is still shorting CRV as of yesterday.

In any case, there seems to be some kind of short squeeze happening with CRV, so it is likely that the price will continue to rise in the short term.

Less complicated Altcoins

While the potential for further increases in CRV is high at this time, some traders are keen to avoid the risk of this short attack (whether on CRV or AAVE). If so, other altcoins may be more desirable, with presale tokens being the most profitable investments this year.

Some presale coins have actually risen more than 1,000% on their first listings this year. And although the market remains largely muted at the moment, this is the opportunity to invest early in a promising project that motivates many traders.

With this in mind, we’ve outlined three coins below that are currently having their presale, with each coin having strong fundamentals.

Dash 2 Trade (D2T)

Based on the Ethereum blockchain, Dash 2 Trade is a trading intelligence platform where investors can access real-time analytics and social trading data to help them make more informed trading decisions.

The platform will launch in the first quarter of 2023. The sale of its original D2T token has already delivered more than €6.8 million. It has also been announced that the coin will be listed on BitMart and LBank Exchange early next year. This confirms that investors actually have the opportunity to generate great returns.

D2T tokens are currently worth 0.0513 USDT, but this will increase to 0.0533 USDT in the next phase of the presale.

Visit Dash 2 Trade now

Robot Era (TARO)

Also based on Ethereum is RobotEra (TARO), a Sandbox-like Metaverse where players can play as robots and participate in the creation of its virtual world. The alpha version will launch in Q1 2023, with the ecosystem enabling users to own their own NFT-based land, buildings and other in-game items.

1 TARO is currently worth 0.020 USDT (it can be bought with USDT or ETH), although it will increase to $0.025 in the second phase of the presale, which will start soon.

Visit RobotEra now

IMPT (IMPT)

IMPT is a carbon credit marketplace where users can earn and trade NFT-based carbon offsets, which can also be earned by shopping at a wide variety of retailers (all of whom support green initiatives). The tokenization of carbon credits as NFTs means that such credits are easier to track, overcoming many of the problems that have undermined carbon credit markets to date.

The pre-sale of IMPT has now €13.1 million delivered in less than a few weeks after launch, making it one of the most popular crypto sales today.

Visit IMPT now

Leave a Comment