Cryptocurrency analysts continue to give Civic price prediction for 2021 to 2022, which prominently predict that CVC could be heading for major gains if price predictions concerning the Identity Verification SaaS turn out to be true.
At the time of going to press, CVC was trading at $0.45 based on data sourced from CoinMarketCap. Based on this figure, Civic enjoyed a market cap of $306 million with a fully diluted market cap of $460 million. The figures are quite impressive considering Civic is yet to hit maturity, as well as other factors.
Of course, there is a lot of variety in estimates for where CVC will go next. Let’s check out what some experts say on matters CVC price prediction.
Civic Price Prediction: Technical Analysis
Civic is building a KYC & AML requirements compliance tool, which will be the most important pillar in taking the Decentralized Finance mainstream. Lately, the native currency of the platform –CVC- has pulled back after a short stance on steroids. So the real question is: Is this a bull flag, or is it the end of the run, for a while, for CVC?
Recently, CVC cleared a historic all-time high after a solid bullish performance that climaxed at $0.95, which was followed by a swift correction. One way we can judge the odds of CVC bursting through the resistance level that dates back to its historic rise is by checking its underlying momentum using the RSI indicator.
While CVC has been trading above its 50-day moving average for most of the year, the 50 DMA on the momentum has been flat-lining. Real Motion is also showcasing weak momentum, as it has consistently stayed flat. Currently, CVC is nowhere near making a dent on the 200 DMA, which makes this even more important because the last time the DMA was broken was a result of strong bullish momentum during the first week of September.
Based on the setup above, you can spot several potential entry levels on any pullbacks. In this case, averaging in and taking a one-out-of-three position at each level might result in a blended price of close to $0.708. That’s a whole lot lower than the peak price after earnings of $0.95, which is the price someone could pay for CVC if they chased for the crypto after a solid end-of-year run.
Civic Price Prediction is only one example, as there is a tonne of crypto that beat both top and bottom-line expectations and guided higher that have similar charts and required a tonne of patience as well. You can see in the chart above that CVC gapped sharply after the strong bullish momentum at the start of September, literally obliterating CVC price predictions back then.
There has never been a solid buy opportunity on the pullback for a nice trade ever since. However, it has set up another nice opportunity. The point is there are so many great chances that arise on such cryptos that beat all expectations, especially for the patient trader.
If CVC does clear the 50-DMI, this will greatly increase the chances that Civic can break to new highs as it shows that the momentum is following the price action. With that said, if CVC does not clear the 50-DMA, this could be sufficient proof that CVC could begin to struggle and may need more consolidation time to build enough strength to push new all-time highs.
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