What to know:
- Short-term charts show renewed selling pressure around key CRV resistance levels.
- Some analysts see signs of a long-term accumulation phase after a nearly 98% decline from peak prices.
- Curve DAO has launched a search for new risk-monitoring providers to strengthen oversight of its markets.
The Curve DAO’s CRV price is facing fresh pressure as its recent rebound loses momentum. Technical analyst Alpha Crypto Signal noted that the four-hour chart has formed a rounded-top pattern, with the token testing a crucial neckline support area.
A break below that level would reinforce the view that sellers have regained control. Having retreated from its previous position in the range of $0.185-$0.190 and having breached above the 50-period simple moving average briefly, the CRV price retraced to $0.215.
Source: X
However, the coin has now retreated below the 50-period average while remaining constrained by the 100-period average, indicating a loss of momentum on the recent upsurge. With reduced buyer interest and more sell-offs, the next level to watch for will be the $0.200 level.
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CRV Price Nears Long-Term Accumulation Zone
While the immediate future may appear bleak for the coin, there is an emerging sentiment among some market analysts who believe the coin is nearing its time of massive accumulation.
Analyst, Make Sense, noted that the CRV price has since dropped by roughly 97% from its highs of the last cycle. In the weekly chart, the CRV price is at one of its lowest points after it fell from around $6.82 at the beginning of 2022.
Source: X
The volatility is very low, while the momentum is also slowing down, and this normally occurs during the formation of a base in the long term.
According to analysts, the only way to verify any reversal would be a weekly breakout through the down resistance.
According to the best-case scenarios, the CRV price can go up to a value of $8.50, resulting in profits exceeding 6,000% compared to today’s prices. However, such targets remain speculative and depend on sustained buying interest and favorable market conditions.
Curve DAO Expands Focus on Risk Management
While traders are speculating on the next move of CRV, Curve has been working on improving its security systems.
Following the departure of LlamaRisk from their platform, the Curve DAO issued a call for proposals for new teams to manage risk assessments and market monitoring of crvUSD and Llamalend.
This project aims to reduce bad debt, improve transparency, and retain the useful monitoring mechanisms and models available to the DAO.
Interested teams can apply and share their expertise, performance indicators, and budgets. Applications will be accepted for the next two weeks.
Patience May Be Rewarded
To the investor, the first concrete signal will be CRV’s ability to move beyond the zone of its longtime support level and break out of its long-term downtrend with significant trading volumes.
Before such a signal appears, caution must be exercised, as short-term charts still give the upper hand to sellers.
Long-term investors may regard the consolidation phase as an opportunity for observation rather than participation because, if the reversal is successful, it may provide significant returns.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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