- Michael Egorov’s CRV token sales signal strategic moves as the market recovers, with price action showing potential reversal and upside target.
- CRV’s triple bottom pattern and resistance at $0.58 suggest a bullish breakout above, while failure to break may bring renewed bearish pressure.
- Despite reduced open interest, CRV’s accumulation near $0.39 hints at a potential shift in momentum, with a breakout above $0.60 targeting $1.
Michael Egorov, the founder of Curve Finance, has resumed selling CRV tokens as the market recovers. According to Spot On Chain, he offloaded 236,457 CRV tokens, valued at approximately $108,000. Since March 24, he has sold a total of 3.083 million CRV, worth $1.62 million. His sales align with local price peaks, indicating strategic selling to maximize returns.
CRV Price Action Signals Reversal Potential
The CRV/USDT chart on Binance suggests a potential inverse head and shoulders pattern forming. Typically, the right shoulder of this pattern is volatile and sharp. A breakout above $0.60 would confirm the pattern, targeting $1 as an initial upside objective.
The price action shows a prolonged downtrend from early February, bottoming out in mid-February. Since then, the price has formed a triple bottom pattern around the $0.39 support level. Buyers have repeatedly stepped in at this zone, preventing further declines.
The resistance at $0.58 remains a crucial level. If CRV breaks above this point, it could lead to a sharp bullish move. Conversely, failure to break this resistance may bring renewed bearish pressure.
Market Activity and Open Interest Trends
CRV’s historical data from October 2024 to April 2025 reveals price fluctuations. In late 2024, the token experienced a surge, peaking at $1.27 in December. Open interest climbed to about $264.71 million on all exchanges over this period, indicating higher trading activity.
Nevertheless, price and open interest fell following the December peak. By January 2025, open interest had dropped below $155 million and CRV had dropped below $1.00. Throughout February and March, the price maintained its downward trajectory by stabilizing around $0.50.
CRV is now trading at $0.4827 as of April 8, 2025, and there is 27.86 million USD in total open interest. This decline reflects reduced market participation. Despite this, the ongoing accumulation near $0.39 suggests a potential shift in momentum.
