CRV broke above strong horizontal resistance between $0.78–$0.85, confirming bullish strength and shifting key supply into firm support.
The horizontal breakout came with peak volume at 26.72M, reinforcing the conviction behind the bullish trend continuation.
Holding above the former resistance zone signals trend reversal, with bulls likely to target $1.10 and $1.25 in coming sessions.
Curve DAO (CRV) has exploded past key resistance, confirming a bullish breakout. The price surged beyond $0.85 with heavy volume. This signals strong market demand. CRV now trades above critical levels, with bulls targeting $1.10 and $1.25. A retest could offer a solid long setup if support holds.
CRV Breaks Out of Downtrend With Strong Volume
Alpha Crypto Signal shared a bullish technical outlook on CRV. The analysis highlighted a clean breakout from a descending channel. This move came with an impressive volume spike, showing conviction among buyers.
https://twitter.com/alphacryptosign/status/1945707583257674151
For months, CRV traded inside a falling wedge, struggling at every upper boundary test. However, the bulls finally broke through. CRV launched vertically from the $0.50 region, slicing through the $0.78–$0.85 supply zone. Volume peaked at 26.72M, the highest in months, fueling the rally.
CRV rocketed to clear the 9-day EMA ($0.7407), and the 50-day SMA ($0.6116)These key moving averages were easily cleared, confirming strength. The breakout candle even wicked up to $0.9696 before retracing slightly to $0.9204.
This strong rejection near $1.00 shows there was some profit-taking. However, the bullish trend remains intact long as price holds above $0.85.
Bulls Eye $1.10 and $1.25 If Support Holds
Significantly, the breakout signals a confirmed trend reversal on the higher timeframes. Momentum now strongly favors the bulls. The broken resistance between $0.78 and $0.85 now acts as key support.
Consequently, if CRV continues to hold above this zone, upside targets become realistic. Price could aim for $1.10 in the short term. Beyond that, a sustained rally might test $1.25.
However, if the price dips below $0.85, CRV might revisit the breakout zone. This retest could offer a strong re-entry opportunity for bulls. Additionally, the 9-day EMA provides short-term support to monitor.
In general, bulls have solid control. In the coming days, CRV will need to consolidate above critical levels to keep its upward momentum. Currently, crvUSD (CRVUSD) is trading at $1.00, with a 24-hour volume of $36,097,842, indicating some continued interest from investors.
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