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- CRV shows strong support at $0.2172, with a potential breakout towards $0.6418, signaling a 159% upside by early 2025.
- Oversold RSI at 26.72 on CRV/BTC hints at a rebound, with targets set at 0.00000750 BTC, a potential 159% gain if support holds.
- CrediBULL Crypto sees CRV’s breakout potential as BTC stays range-bound, creating an opportune entry point for traders.
Curve DAO Token shows potential for a 159% price gain as it hits critical support levels against both USDT and Bitcoin. With CRV currently trading around $0.26 on the USDT pair and maintaining support at $0.2172, analysts CrediBULL Crypto suggest a potential breakout toward the monthly supply zone between $0.44 and $0.64. A move of this magnitude aligns with the anticipated gains if BTC remains in its current trading range, between $70,000 and $90,000, over the next few weeks.
Key Price Targets and Technical Levels
On the CRV/USDT chart, a bullish setup targets the monthly supply zone, representing a range where selling pressure may emerge. However, if CRV breaks through this zone, the price could surge towards $0.6418, marking a possible 159% increase by early January 2025. Additionally, short-term targets align with the initial low timeframe target, suggesting imminent gains for traders eyeing CRV’s potential upside.
Furthermore, the CRV/BTC pair displays similar bullish signals. CRV currently trades near 0.00000301 BTC, with a solid support level at 0.00000294 BTC. If this support holds, CRV could rally toward 0.00000750 BTC by early 2025, reflecting another 159% increase.
Source: CrediBULL Crypto
This projected upswing is supported by the high timeframe bullish divergence (HTF bull divs), indicating an oversold condition that could attract buying interest. The Relative Strength Index (RSI) for CRV/BTC, at 26.72, emphasizes this oversold state, suggesting a likely rebound in the near term.
Market Momentum and Investor Sentiment
Besides these technical levels, market momentum also appears favorable. Green arrows on both charts illustrate an anticipated bullish trajectory, while the monthly supply zone on the CRV/USDT chart marks an area to monitor for potential breakout confirmation. If momentum sustains, CRV could break past resistance and target higher levels, benefiting from BTC’s price stability within its projected range.
CrediBULL Crypto remains optimistic, highlighting CRV’s potential for gains if BTC remains range-bound. This stability in BTC could create a conducive environment for CRV to reach its targets. Moreover, with the RSI showing oversold conditions, investors may view this as a suitable entry point for long positions.