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Why CRV Could Hit $2.00 Soon: Key Technical Signals and Market Catalysts Explained
Curve DAO Token (CRV), the governance token of the decentralized finance platform Curve Finance, is exhibiting strong potential for a major breakout after an impressive near 8% price increase over the past week. The cryptocurrency market has entered a positive phase, led by Bitcoin’s renewed bullish trend. This rise in Bitcoin’s price has helped lift altcoins, including CRV, which are following the general upward market momentum.
The cryptocurrency market is fueled by recent regulatory developments that further legitimize digital assets within mainstream financial structures. A key catalyst influencing the crypto market this week is the signing of an executive order by former U.S. President Donald Trump, which aims to allow cryptocurrencies and other alternative investments like private equity and real estate to be included in 401(k) retirement accounts. This move could significantly broaden access to digital assets for millions of American retirement savers, fostering greater institutional and retail adoption of cryptocurrencies.
CRV Forms Bullish Flag, Eyes $2 Target
From a technical perspective, CRV’s price action is forming a bullish flag pattern on the daily chart, a reliable indicator that suggests the ongoing consolidation phase is likely to resolve with an upward breakout. According to this pattern, price targets are estimated to be initially $1.05, with potential further advances to $1.305, $1.605, and as high as $2.00.
Source: www.tronweekly.com
