- CRV surged by 17.96% in 24h, outperforming DeFi’s weekly loss, backed by rising volume and bullish technical indicators.
- RSI at 62.39 and a MACD crossover confirm growing upward pressure as CRV approaches key resistance at $0.6124.
- Rising open interest and price suggest spot driven accumulation, pointing to fresh long positions entering the market.
Curve’s native token, CRV, has gained strong momentum following a volatile week for crypto markets. While the DeFi sector posted a 4.72% loss over the week, Curve recorded a milder 2.07% decline.
At the same time, it maintained a total value locked (TVL) of $1.795 billion. This relatively stable performance has , especially as CRV rallied by 17.96% in the last 24 hours, according to the latest trading data.
At the time of writing, CRV was trading at $0.5947, the token is also up by 10.36% over the past week and 43.41% in the last month. Market cap is at $783.3 million, an 18.01% increase, while daily trading volume reached $345.92 million, up by 37.82%.
Technical Indicators Show Upward Pressure
Recent technical patterns suggest CRV is moving out of a prolonged downtrend that saw it fall below the $0.45 mark. The price is now approaching a resistance zone, supported by increased volume and large bullish candles.
The RSI is at 62.39, indicating rising buying activity but still below the overbought level of 70. Additionally, the MACD shows a bullish crossover. The MACD line is at 0.0159, while the signal line is 0.0082, with a positive histogram value of 0.0077. These technicals confirm rising momentum behind the recent rally.
To support this trend, the rising trading volume further reduces the likelihood of a false breakout. Support levels are at $0.5545, followed by $0.50 and $0.45. On the upside, resistance is at $0.6124, with the next key range between $0.65 and $0.70.
Volume and Open Interest Suggest Fresh Capital Entry
Open interest (OI) data adds insights to the CRV market movement. While OI peaked at $250 million in February, it has since dropped to a range between $30 million and $60 million.
Despite the decline, both price and OI have been rising in early April. This combination often reflects spot-driven accumulation rather than leveraged speculation. Moreover, current increases in both OI and price suggest new positions are being opened.
Traders appear to be entering fresh long positions rather than closing existing shorts, supporting the ongoing bullish trend. The low OI levels also indicate lower leverage, which can reduce liquidation risks.
April 12 Forecast Based on Current Trends
CRV’s short term outlook is closely tied to its recent market behavior. If strong volume continues and OI rises further, the price may break above $0.6124. In that case, a target range of $0.64 to $0.68 becomes possible.
However, if volume slows or OI weakens, CRV may test lower supports at $0.54 or $0.50. Broader market sentiment and volume trends will likely influence price direction in the short term.
