- CRV faces strong resistance between $0.7500 and $0.7550, hindering further gains.
- Support at $0.6719 remains crucial, with potential for renewed buying interest.
- Elevated trading volume signals market interest but also introduces increased volatility.
Curve DAO Token (CRV) has recently sparked attention with a notable upswing in price action. In the last 24 hours, CRV surged 11.50%, climbing to a high of $0.7502. This comes after a phase of decline and sideways movement. However, despite the bullish signs, technical indicators hint at potential headwinds for the token as it enters May 2025.
Strong Recovery but Testing Resistance
CRV began the recent uptrend from a base near $0.6719. This level served as a launchpad after weeks of consolidation. As buyers stepped in, the price saw a steady climb, reaching its current high.
The area between $0.7500 and $0.7550 has now become a critical resistance zone. Price action near this range shows hesitation, signaling a possible struggle to break through.
Source: CoinMarketCap
This resistance level has held back further gains so far. If CRV manages a decisive breakout above $0.7550, especially with strong volume, the bullish trend could extend. However, a rejection at this point might shift sentiment and bring sellers back into the market.
Key Support and Market Behavior
The support level at $0.6719 remains crucial. It marks the recent low and a psychological level for traders. If prices decline in early May, this level will likely attract renewed buying interest. A breakdown below this support could push CRV further into correction territory.
The surge in trading volume up 135.25% in a single day is noteworthy. This reflects heightened market interest, possibly fueled by speculation. The volume-to-market cap ratio sits at 24.97%, a high figure indicating elevated trading activity. While this often supports rallies, it also introduces volatility and risk.
CRV/USD monthly price chart, Source: TradingView
Technical signals are mixed. The MACD has flipped bullish, with a crossover supporting recent momentum. Meanwhile, the RSI stands at 51.80. This places it in neutral territory, suggesting room for both upward and downward movement.
Forecast for May: Caution Ahead
Despite April’s bullish rally, May could present challenges for CRV holders. Coincodex analysts forecast suggests an average price around $0.6974, with expected fluctuations between $0.6348 and $0.7465. This range implies possible downward pressure, especially if resistance holds.
