- CRV increased by 72.53% during a week of strong volume support.
- An advance above $1.00 would be a possible extension of the short-term rally.
- The weekly chart reveals a multi-year trendline break, aiming at $3.05–$6.85.
Curve DAO Token (CRV) has delivered a standout performance over the past week, recording a significant price surge supported by risk trading activity growth.
The token is currently at the price of $0.9797, representing a 24-hour price increase of 23.71% and a notable 72.53% increase in the past week. The volume of CRV trading rose by 82.78% to $753.49 million.
The token’s market capitalization stands at $1.33 billion, re-establishing it as a major player in the decentralized finance (DeFi) space as the sentiment of investors keeps shifting.
Increased momentum reflects a regained confidence as the market reacts to a discernible shift in trend. The move, although evident in short-term price action, is also substantiated through larger technical indicators.
CRV Bullish Price Action Breaks Key Resistance
Over a 7-day timeframe, the candlestick chart of CRV indicates a constant rising trend. Starting from prices below $0.60, the token experienced minor consolidation, after which it was acquired and overcame the significant resistance levels.
Green candles dominated the chart as the price successfully broke through at $0.70, $0.80, and $0.90. Finally, it broke through the significant barrier of $1.00, corroborating a short-term breakout that had high volume support. The absence of large red candles in the previous rally indicates less selling pressure.
Gaining volume along with consecutive gains typically indicates strong accumulation, and it would be a sign of buyers aggressively building long positions. Momentum stays intact, and the short-term targets could go up to $1.10 and beyond.
Also Read: CRV Chaos: Founder’s Liquidations Shake DeFi World
Weekly Structure Points to Long-Term Trend Reversal
On the weekly chart, CRV has overcome a multi-year down-sloping trendline that started back in 2021. The move represents a wholesale change in market behavior.
The token had remained frozen in a large accumulation range of $0.35 to $0.70 for months. The recent breakout of the range, along with an upticking Relative Strength Index, gives credence to the hypothesis of a bullish reversal.
The closest critical area would be the zone between $1.05 and $1.50, which has been categorized as a previously established supply zone.
If the asset manages to flip the range as a support base, it can potentially result in higher-term targets of the order of $3.05 and $6.85.
The structural breakout gives more validity to the postulation that the CRV could be entering a higher cycle of expansion, as backed by technicals along with rising interest from the broader crypto universe.
Also Read: CRV Tests Triangle Support, Chart Signals Breakout Toward $1.30
Disclaimer: This article is based on real-time market data and general technical observations. It does not constitute financial advice. Always conduct your own research before making investment decisions.
