news 
Curve DAO surges 24% in 7 days: Is $1.16 ahead for CRV?
In a stunning turn of events, Curve DAO has surged by an impressive 24.79% over the past week, leaving many wondering if this upward momentum can be sustained and whether the target price of $1.16 is within reach.
The altcoin’s journey began just a week ago when it hit a local low of $0.68. However, in a remarkable display of resilience, CRV has managed to reclaim the $1 level, currently trading at $0.97 after experiencing a slight pullback.
Despite the recent upswing, analysts are divided on whether this surge is indicative of a sustained recovery or simply a correction before a larger decline. Nevertheless, it’s clear that CRV investors are optimistic about the altcoin’s prospects moving forward.
Data suggests that large holders (whales) have been actively accumulating Curve DAO, with their netflow ratio dropping to a negative value (-0.32%). This is a crucial indicator of confidence in the market as whales tend not to sell during periods of uncertainty or downward pressure.
Furthermore, investor sentiment has taken on a decidedly bullish hue. Long positions have dominated trading activities, with 52% of trades being longs on a four-hour timeframe, according to data from Coinglass. This suggests that investors are increasingly betting on prices rising further.
Another key indicator of CRV’s potential trajectory is the Binance Funding rate, which has remained positive over the past five days. This implies that long-position traders are willing to pay a fee and hold their trades even during periods of downturn, further corroborating the notion that investors are keen on maintaining their bullish stance.
Despite this surge in price action, it’s essential for investors to keep in mind that the cryptocurrency market is inherently volatile. Therefore, caution should always be exercised when making any investment decisions.
It appears as though Curve DAO has garnered significant momentum over the past week, and if this sentiment can be maintained, we could potentially see a breach of $1.12. However, if bears regain control, the next target may be a drop to $0.87.
Ultimately, only time will tell whether CRV’s upward trajectory can continue.
Source: ambcrypto.com
