news 
CURVE DAO PRICE ANALYSIS & PREDICTION (December 29) – CRV Faces Resistance At $1 After A Week Bounce, Will It Break?
Following a significant drop earlier this month, which led to a 30% correction in just two weeks, Curve DAO’s native token, CRV, found support last week and bounced back. While the trend still appears bullish on the daily timeframe, the recent price action has raised concerns about potential resistance at the $1 level.
CRV’s impressive bounce saw it regain some of its losses from earlier this month, with a strong close above the $0.8 mark. Volatility surged in the past week, and as a result, the price rose consistently until it hit the key $1 level on Wednesday. However, instead of breaking through, the token dropped slightly before recovering to $0.89 yesterday.
With the latest move, CRV appears to be setting up for another rally following its recent bounce back. A breakout above this critical resistance could fuel a bigger rally in the coming days, potentially paving the way for a more significant price increase. On the flip side, failure to scale through the $1 mark could result in a pullback and correct the price before finding support at a lower level.
In terms of key levels, traders should keep an eye on the current monthly high of $1.3. If CRV can break above this barrier, it would set the stage for further upside momentum, with higher resistance levels at $1.7 and $2 waiting in the wings. On the downside, the $0.88 level has emerged as a crucial support zone, closely followed by the monthly low of $0.69. A breach of these levels could trigger a broader correction down to $0.577 and potentially even lower.
Overall, while the short-term trend remains bullish, traders will be watching CRV’s price action closely to determine if it can break through the current resistance at $1 and continue its upward trajectory or face rejection and turn south.
Source: nulltx.com
