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- CRV has surged 100% in 10 days, approaching the first target of $0.58, marking a 150% move from initial entry levels.
- High-timeframe bullish divergence (HTF bull divs) on CRV/BTC signals strong potential for continued upside momentum.
- The rally highlights renewed interest in DeFi tokens, with CRV gaining attention as a key performer in the market recovery.
Since the beginning of October, the Curve DAO Token ($CRV) has gained 100% in the last 10 days, getting closer to the first traders’ level. The reason is the overall fundamental improvement in the general stock market and the appearance of technical indications regarding further growth. Now that CRV has delivered strong numbers, people are wondering what its next levels might be, with analysts pointing to further increases.
Strong Momentum and Technical Indicators
The current rally in price in CRV has taken place side by side with significant demand on the technical front. Pundits have also drawn attention to higher time frames or the bull divergences (HTF bull divs) on the pair with CRV/BTC. It is a normal occurrence when the divergence exists that a reversal is soon to happen or even when the positive slope continues to ascend, which supports the bullish action even more.
“I've longed $CRV here- a move back to range highs on CRV/BTC (which is printing HTF bull divs) is a 150% move to the upside which coincides with our 2nd target of .58+.”$CRV is now up 100% in 10 days, almost to my first target which was 150% above entry.
— CrediBULL Crypto (@CredibleCrypto) November 23, 2024
Crazy thing is we are… https://t.co/HtgPUy1Cfr
As for CRV, this rebounded from key support levels and the further upward movement is taking the token closer to the first target of $0.58 – that is 150% more than the entry point. The same extreme volatility has brought CRV to the forefront as many traders expect the token’s price to move closer to the second target, which may be even more profitable.
Broader Market Implications with Caution Amid Optimism
It appears that DeFi tokens are back in the spotlight, as the token showed signs of becoming active again after spending several months in a relatively low trading zone. The growth that is seen in CRV price can be explained by the overall bounce back of DeFi sector or may be the increased investors interest in buying high-risk, high-reward assets.
Other than the general market influences, it seems there are some particular events in the Curve DAO environment that are supporting investors’ morale. As CRV traffic gains traction, the crypto community continues to pay attention to both intraday speculation and holders.
However, the technical factors are still bullish, thus the participants in the cryptocurrency market should not forget about the risks of crypto trading. With CRV now standing at about 150% of its initial value, some profits could be sold – this could bring mid-term fluctuations.