- CRV has suffered a sharp 64% correction over the past 90 days but is showing resilience at a major breakout level with noticeable gains today.
- The token is stabilizing near the breakout level of its falling wedge pattern after initially breaking out in November 2024 and reaching a December high of $1.33.
- CRV is currently trading at $0.38 and holding at critical support with strong support forming and bullish divergence appearing on the RSI indicator.
- A confirmed bounce could propel the price toward key resistance targets at $0.53, $0.72, $0.88, and $1.30, though broader negative market sentiment could influence movement.
Date: Tue, March 11, 2025 | 05:37 PM GMT
The cryptocurrency market is experiencing a strong downtrend, with major altcoins struggling after their rallies in late 2024. Ethereum (ETH), for instance, has dropped from its December high of $4,000 to its current level of $1,900, adding immense pressure across the altcoin market.
One of the hardest-hit top altcoins in this downturn has been Curve DAO Token (CRV), which has suffered a sharp 64% correction over the past 90 days, shaking investor confidence. However, with today’s noticeable gains, CRV is showing resilience at a major breakout level.
Holds Major Breakout Level
According to chart analyst Jonathan Carter, Curve is stabilizing near the breakout level of its falling wedge pattern on the weekly timeframe. Initially, back in November 2024, CRV made a major breakout from this wedge, which had kept its price in consolidation for multiple years. This breakout propelled its price to a December 2 high of $1.33.
However, since then, the token has seen a sharp decline, leading it to retest this breakout trendline. Currently, CRV is trading at $0.38 and showing resilience at this critical support level.
The analyst added that strong support is forming at current levels, with a bullish divergence appearing on the RSI indicator. A confirmed bounce could propel the price toward key resistance targets at $0.53, $0.72, $0.88, and $1.30.
What’s Ahead?
CRV is showing resilience at the key breakout trendline support, and a bounce could ignite a rally. However, broader market sentiment remains negative, which could influence the token’s price movement in the coming weeks.
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