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- The curve breaks in the higher time frame.
- Why are large shareholders dumping their shares amid the upcoming replacement stock season?
curve [CRV] It recently made a breakout on the 2-day timeframe, indicating a potential upside move. Using the Lux Algo indicator, CRV has successfully retested the breakout level and is now targeting new highs.
After completing a five-wave bottom, CRV established a support level at $0.30, with a resistance level at $0.42. However, it is still uncertain whether CRV will reach a short-term high at $0.50.
Source: TradingView
CRV also broke out of the consolidation zone at the time of publishing this report as well, with the price action indicating a potential retest of the $0.30 or $0.33 levels.
These levels may provide buying opportunities, although aggressive buying may be psychologically challenging for some investors.
Source: TradingView
Will the alternate season boost CRV?
The broader altcoin market is also showing signs of strength. Altcoins are on the verge of breaking out of a nine-month falling wedge on the weekly timeframe, a move that could further boost CRV’s price.
The total market cap of altcoins is currently at levels not seen since 2023, suggesting that a similar rally could be on the horizon. This could attract bullish momentum, which could push CRV higher.
Source: el_crypto_prof/X
Liquidation levels and market value
CRV is slowly recovering, along with other cryptocurrencies, with liquidity settling at $22.36K at the $0.50 price level at the time of writing. With CRV buy orders still being executed, reaching this level in the near future seems plausible.
Source: Hyblock Capital
CRV’s market cap at the time of publication was $385 million, with a trading volume of $157 million. This resulted in a volume-to-market-cap ratio of 42.22%, indicating high liquidity and a stable market with low volatility.
Despite these positives, the overall value booked in CRV remained low.
Source: DefiLlama
Does DWF Labs do CRV dumps?
DWF Labs, a major CRV holder, recently deposited 2 million CRV ($683,000) to Binance.
For starters, DWF Labs had previously purchased 12.5 million CRV from Curve founder Michael Egorov during the liquidation crisis and still holds 10.5 million CRV.
They are currently facing a total loss of $824k (-16.5%) at the time of writing. It remains to be seen how DWF Labs’ actions will impact the CRV price, but their potential sale of CRV could impact market sentiment.
Source: SpotOnChain
Reads DAO Curves [CRV] Price prediction 2024 – 2025
While CRV shows promise, especially with a potential breakout into the broader altcoin market, investors should keep a close eye on key support and resistance levels.
CRV’s next steps will likely depend on broader market movements and actions by important shareholders like DWF Labs.
