Curve DAO (CRV) Faces Key Test of Support During Downtrend

• CRV approaches a key support area at $0.45-$0.50, which will decide its future price action.
• RSI at 31.27 reflects oversold levels, enhancing the chance for a short-term reversal.
• A breakdown below support can drive CRV down to $0.35 or even below, extending the downtrend.

Curve DAO (CRV) is trying out a key support level amid a persistent downtrend. Traders are keenly observing if the asset will hold the $0.45 – $0.50 level or extend its losses even more.

A recent tweet from Alpha Crypto Signal analyzed the price action of CRV, detailing that the momentum of the asset weakened following an unsuccessful breakout attempt. CRV first formed a falling wedge pattern but was unable to sustain a bullish momentum. As per the tweet, a deviation below the support might come first before a possible recovery.

Price Movement and Trend Analysis

CRV has been in a downtrend for a long period ever since it reached its high in late 2024 at over $1.30. The asset continued to fall, trending towards a key horizontal level between $0.45 and $0.50. That level had functioned as a level of both resistance and support and thus a key price zone

If this level of support continues, CRV can make a short-term recovery towards $0.60 – $0.65. But a drop below it can result in further loss, and in such a scenario, the price can move towards $0.35 and below.

Key Support and Resistance Levels

The $0.45 – $0.50 level is still a key support area. If buyers intervene, there could be a possible recovery. The nearest resistance is at $0.60 – $0.65, which was once a support area before it became a resistance zone. A more significant resistance zone is between $0.85 and $0.90, where selling pressure increased before.

The Relative Strength Index (RSI) is at 31.27, at its oversold level of 30. That informs us that the asset is in a reversal zone. To confirm a direction change, however, RSI will have to rise over 40-50.

Market Overview and Present Price

Traders continue to observe CRV’s price behavior testing a level of support. In the event $0.45 – $0.50 holds, a move towards areas of resistance can then occur. In the event a break below occurs, further drops can follow through. Observing trading volumes and overall market sentiment will become key in deciding in which direction the price will move next.

The Curve DAO (CRV) price at publication was $0.4818, with a 24-hour trading value of $156,304,171. It has shed 6.60% in value over the last 24 hours and 34.96% over the week.