- Curve Dao Token was far away from the highlights of 2021-2022 despite his strong performance in November.
- The short -term momentum was Bullish and a price of 12% higher was expected at the time of the press.
Curve [CRV] Has won just over 19% in a week. De Bulls wanted to challenge the $ 0.55 resistance in the coming days. However, the Defi -Token has erased the most profit that it achieved in November and December 2024.
Source: CRV/USDT on TradingView
The weekly graph showed that although the curve achieved strong profit in November, the long -term downtrend was not completely overthrown.
Yes, there was a bullish structure break on the weekly graph. This was a sign of strength for the investors.
It may be too little, too late. In a bull run, the strong, early runners are usually those who retain their profit during the cycle.
Bitcoin [BTC] Faced with weakness in December and dropped under $ 92k in February, and CRV has followed even more aggressively to the disadvantage. This dented the sentiment behind CRV.
Reduced sales pressure meant that curve had a chance of recovery
Source: CRV/USDT on TradingView
Zooming in on the 1-day graph, we can see that the OBV has not fallen much compared to the December levels. It has created even higher lows in the last three months.
The slow push up was a sign of a lack of sales volume during the deep retracement. This meant that a recovery could come quickly.
Despite the positive sign of the OBV, the bulls have a lot of work ahead of them. The RSI has climbed above the neutral 50 to signal a bullish momentum shift. Yet the local resistance of $ 0.55 was still in the way.
The daily market structure was Beerarish and an infringement of $ 0.55 would change this.
Furthermore, the Fibonacci retracement levels would be the most important resistors to overcome. The trends of BTC in the coming weeks can have a major influence on the performance of CRV.
The 1-month liquidation heat showed that the area of $ 0.5- $ 0.55 was filled with liquidation levels. They could attract the curve prices higher in the coming days.
It was likely that a move to $ 0.55 would be followed by a small retracement.
The Shorter-Period Liquidation Heats would be worth monitoring to understand how deep such a dip could go. Based on the evidence for the obvious, a move to $ 0.55 would probably be followed by a dip to $ 0.47.
If the purchase volume rises higher, a breakthrough of more than $ 0.55 would become more likely and a withdrawal to $ 0.47 would be less likely.
Disclaimer: The presented information does not form financial, investments, trade or other types of advice and is only the opinion of the writer
