Curve DAO (CRV) continues to trade within a long-term horizontal channel.
CRV defied the broader crypto market dip, posting gains during a sharp correction.
Can CRV build on this momentum and finally break out of its range?
While the crypto market took a hit yesterday, sliding more than 4% in under 24 hours, one token held firm, Curve DAO’s CRV.
While most altcoins faltered, CRV printed a bullish daily candle and even kicked off a modest rebound today.
Historically, altcoins that stay resilient during sharp corrections often lead the charge when the market turns around.
If history repeats itself, CRV could be gearing up to take the lead in the next big move. So—is this just a quiet pause before CRV storms higher? Let’s dig into the charts and find out.
CRV Price Analysis
For nearly three years, CRV has traded within a well-defined horizontal range between $0.42 and $0.83.
While there have been a few breakout attempts, none have held up. Each rally was quickly followed by a pullback into the same range.
The most notable deviation occurred between June and November 2024, when the price of CRV briefly slipped into a new lower range, sparking fears of a prolonged downturn.
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However, that move turned out to be a fakeout. Instead of settling into a new range, CRV suddenly surged above resistance, only to settle back into its familiar zone shortly after.
Since then, the picture has improved. CRV is now trading in the upper half of its range and appears to be building momentum for a sustained breakout above $0.83.
If a breakout happens and is sustained, CRV can start a parabolic rally that takes it to an over three-year high.
Momentum indicators suggest a rally is forthcoming. The Relative Strength Index (RSI) is above 50 while the Moving Average Convergence/Divergence (MACD) has made a bullish cross (black circle).
What’s Next for CRV?
The wave count aligns with the bullish outlook from the weekly analysis, suggesting the recent CRV price action could be the start of a much larger move.
According to the count, CRV completed a five-wave rally (green), followed by a clean A-B-C corrective pattern (red). While the initial rally wasn’t textbook in form, the correction fits classic Elliott Wave theory, adding confidence to the structure.
If that is the case, the breakout from the channel marks the start of a new five-wave upward movement, which could be either wave C or wave three in the long term.
In both cases, an increase to $1 is likely. Since this proposed increase will cause the CRV price to break out from the range high, the chances are that it is the start of wave three rather than wave C.
In any case, the reaction once the CRV price gets there can help determine what happens next.
Bullish CRV Trend
CRV defied the ongoing crypto market correction, sustaining the breakout that started on July 11.
It has now positioned itself well to rally once the market stabilizes.
The price could begin a significant rally once it breaks out from its long-term range high.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
