Curve DAO Token (CRV) Soars 30% — What's Next?

Curve DAO Token (CRV) is once again attracting traders’ attention after a prolonged period of consolidation. Since reaching its local low, CRV has recorded a significant recovery and is gradually showing signs of an improving market structure.

At the same time, the price is approaching an important resistance level that could help determine whether the current upward move continues or another pullback occurs. Which price levels are worth watching in the near future?

Curve DAO Token (CRV) technical analysis

CRVUSD - 1 Day Time Frame

After forming a local low at around $0.17, CRV traded sideways for several weeks. However, the situation then began to change, and the chart is now showing the gradual formation of higher highs and higher lows, which could be viewed as a positive signal from a price action perspective. From the mentioned local low, CRV is currently up by more than 53% and is trading at around $0.26.

The first important support area is located around $0.21. If the market were to return to this zone, a stronger reaction from buyers could emerge. However, it could be important for CRV to avoid closing a higher-timeframe candle below this support. Such a close could signal a shift in the market structure to the downside and, from a price action perspective, open up room for a potential continuation of the decline.

If the market fails to hold this important area, the next level to watch could be support around $0.18. Here as well, the reaction from buyers and their ability to defend this level could be important. A candle close above this level followed by an upward move could provide an early sign of another change in the short-term trend.

Curve DAO Token (CRV) price target

CRV is currently trading relatively close to important resistance around $0.28, where increased selling pressure could emerge. This is an important price area from which a significant decline occurred in the past, so a smaller pullback around this level would not be surprising.

However, if buyers manage to push the price above this resistance, a candle close above $0.28 could strengthen the bullish scenario. During a potential subsequent pullback, holding above this zone could provide further confirmation of the breakout. In that case, the next price target could be the resistance around $0.35. A more significant pullback could occur around this level, as it represents one of the most important resistance areas on the current chart.

The final monitored target is located around $0.44. If CRV manages to continue moving higher after reaching this level, another candle close above the resistance followed by the price holding above it could strengthen the case for further upside. A move back below this area, on the other hand, could signal weakening buyer strength.

From a broader perspective, CRV is showing signs of an improving market structure, but several key resistance levels still stand in the way of further growth. The reaction around these levels could help determine whether the current bullish momentum continues.

Crypto assets are unregulated, decentralised and highly volatile assets which entail substantial risks and you may lose all invested capital. Refer to the Disclaimers for detailed information on potential risks.