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- CRV has broken out of its descending channel, signaling correction end.
- Momentum indicators (RSI, MACD) are bullish, supporting upward movement.
- A breakout above $0.82 could trigger a surge to $2.11.
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Curve DAO Token (CRV) appears poised for a strong upward movement after breaking out from its descending parallel channel, marking the end of its corrective phase. After a retracement confirmed the $0.82 resistance, CRV found a local low of $0.63 before rebounding, with key momentum indicators flipping bullish.
CRV Technical Analysis
CRV has been under pressure since its July 16 peak at $1.16, following a breakout above long-term resistance at $0.82. The token fell below $0.82 in August, validating the level as resistance during a corrective phase. The drop remained contained within a descending parallel channel—a pattern often signaling temporary correction rather than a trend reversal.
Last week, CRV broke out of this channel, establishing support at the previous resistance. Technical signals support the bullish outlook. Both the Relative Strength Index (RSI) and the Moving Average Convergence/Divergence (MACD) have broken above their diagonal resistances, confirming that upward momentum is gaining strength.
Potential Upside and Price Targets
Analysis of CRV’s wave structure indicates the token may have completed a five-wave leading diagonal, culminating at $1.16. This pattern suggests the recent decline was a complex correction and the new upward movement could mirror previous rallies. If the current wave matches the length of prior increases, CRV could surge to $2.11, representing a 175% gain from its current level.
The critical level to watch is $0.82. A successful breakout above this resistance would likely trigger a parabolic rally, potentially marking the start of a significant bullish cycle for CRV.
Bullish Momentum Building
Curve DAO Token’s breakout from the descending channel and bullish RSI and MACD readings signal that the correction phase is over. With $0.82 as the key level for validation, CRV is positioned for a potential surge toward $2.11. Traders and investors should monitor this level closely, as a confirmed breakout could open the door for substantial upside.
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Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: Curve DAO Token (CRV) Builds Momentum Toward $1.10 Breakout, Eyes $3 Target
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