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CRV price explodes past $1 as Curve token hits 79% weekly surge.
The cryptocurrency market has been plagued by uncertainty and volatility in recent times. However, one asset has defied all expectations – Curve DAO’s CRV token, which has witnessed an unprecedented 79% weekly surge. In the latest development, CRV has successfully breached the $1 resistance level, solidifying its position as one of the top-performing cryptocurrencies this week.
According to the data from various exchanges, CRV is currently trading at $1.06 (+4.65% in 24h). This significant price jump can be attributed to a short squeeze and positive regulatory developments that have boosted investor sentiment towards Curve DAO’s DeFi sector.
The short-term technical analysis suggests that this uptrend could continue for the time being, but traders are advised to exercise caution due to the overbought conditions. The Relative Strength Index (RSI) has reached 76.98, a level that may signal a correction is overdue. However, as Curve’s moving average structure demonstrates robust bullish momentum across all timeframes, this trend could persist.
As traders ponder their next move, it is essential to keep an eye on the following price levels: $1.10 and $1.27. These marks represent key resistance zones that will either confirm or invalidate further gains. A pullback towards Curve support levels around $0.50-$0.90 would be considered a healthy correction.
In conclusion, while the market remains volatile, CRV’s explosive rally has created an attractive entry point for traders who can navigate this uncertainty with precision.
Source: Blockchain.News
