Curve (CRV) Now on Breakout Watch After a Short Squeeze Pushes It to $1.00
Main Idea
The Curve DAO Token (CRV) has surged nearly 28% in the last 24 hours due to a short squeeze, pushing its price toward the $1.00 mark and sparking bullish technical signals.
Key Points
1. CRV's price surged nearly 28% in 24 hours, fueled by a $3.9 million short squeeze, moving from $0.7853 to just under $1.00.
2. Liquidation data shows $4.6 million in leveraged positions wiped out, with $3.9 million being short positions.
3. A breakout above $1.00 could target the $1.05 to $1.10 resistance zone, with support levels at $0.90 and $0.85.
4. Technical indicators like MACD and RSI support a bullish outlook, with MACD showing a bullish crossover and RSI trending upward at 57.29.
Description
The Curve DAO Token (CRV) has surged nearly 28% in the last 24 hours, pushing toward the $1.00 mark The rally was fueled by a massive short squeeze that liquidated over $3.9 million in bearish derivative positions The token is now testing the key $1.00 psychological resistance level for a further breakout The price of the Curve DAO Token (CRV) has exploded by nearly 28% in the last 24 hours, a rally that was fueled by a massive short squeeze that wiped out $3.9 million in bearish bets. The move ...
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