- Curve DAO Token fell from $0.70 to $0.35 before mild recovery to $0.51.
- Technical chart shows triple tap bottom pattern with potential bullish signs.
- Curve DAO approves $60M crvUSD credit to support a new protocol.
Curve DAO Token (CRV) experienced a sharp decline, falling from $0.70 to a low of $0.35 within 24 hours, losing over 27% of its value. The token later stabilized near $0.51 after brief attempts at recovery.
According to data from CoinMarketCap, CRV’s market capitalization stood at around $717 million, while its trading volume increased sharply by more than 178%, indicating strong market activity during the decline.
Despite the fall, traders observed the formation of possible technical stability at lower levels. The support level is near $0.35, while immediate resistance is located at $0.60 and stronger resistance is found near $0.70. The sharp volume rise suggests active accumulation after panic selling, reflecting renewed trading interest in the token.
Technical Setup Indicates Possible Reversal
Curve Finance is forming a triple-top pattern, according to analyst Shan Specter. This pattern often suggests price exhaustion on the downside, with potential room for upward movement. The chart also marks two major supply areas expected to be tested soon as market conditions improve.
Specter stated that “Curve Finance is forming a triple tap bottom,” and noted that the supply zones “could see a test very soon.” Analysts believe this setup could attract technical buyers seeking a potential rebound if price stability persists.
Ecosystem Expansion Strengthens Market Outlook
Curve DAO recently approved $60 million in crvUSD credit to support a new protocol. This development may improve liquidity and utility within the Curve ecosystem. The move aligns with the platform’s goal of expanding credit capabilities and enhancing decentralized finance stability.
The combination of strong trading volume, technical support, and new protocol credit may help CRV regain momentum. While market conditions remain cautious, current technical and ecosystem updates indicate that Curve DAO is positioning for gradual recovery amid recent volatility.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
