Curve DAO surges 15% but risks pullback: $0.86 or $0.70, what’s next for CRV?

Key Points

1. Curve DAO (CRV) rallied 15.5% to a 2-month high of $0.80 before slightly retracing to $0.79, with market cap spiking 14% to $1.08 billion and trading volume surging 43% to $454 million.

2. Exchange Netflow dropped significantly to a 3-week low of -$2.67 million, indicating aggressive accumulation, while CRV’s scarcity reached an all-time high of 71.68, suggesting reduced selling pressure.

3. Futures market shows strong demand for long positions, with Funding Rate turning positive and Long Short Ratio rising to 1.56 (60% longs vs. 39.37% shorts).

4. RSI hit 76 (overbought territory), and +DI of DMI increased, signaling potential for further gains if momentum continues, with $0.86 as a key resistance level.

5. A daily close below $0.77 could invalidate the uptrend, leading to a retracement to $0.70.