The Curve DAO Token (CRV) caught the crypto community’s attention today with jumping over 23% on daily candle. It surged from $0.77 to briefly hitting $1.00 by midday before settling back down to around $0.94 at the time of publishing.
This shift was accompanied by a 103% increase in trading volume, which soared to $860 million. As a result, CRV’s market cap has now reached $1.28 billion—a 17% rise in just one day.
Besides the price rally, the wedge breakout at $0.74 triggered this momentum, flipping the $0.88 resistance into support. According to crypto trader ‘TheBreakoutZone’s’ X post, CRV’s current price is now targeting $1.27 next. This key level was a strong pivot in 2023 and may act as a magnet if momentum holds.
Technical Chart Confirms Bullish Breakout
TradingView data indicates that there has been some upward momentum building since July 9. Taking a look at the 4-hour chart, CRV has been climbing from below $0.60, with growing green candles signaling strong bullish control. The Bollinger Bands show price expansion, which typically suggests a lot of volatility and momentum from buyers.
Moreover, the MACD shows a bullish crossover, with the histogram expanding green bars. This indicates that buyers are active and pressure is still at play. The current rally looks organic and well-supported by volume. Many traders are now eyeing the $1.60 zone as the next possible stop.
Long-Term Outlook Looks Strong
If CRV pushes higher, the $2.10–$2.70 supply zone from previous cycles may come into view. However, the $1.27–$1.60 range may offer stiff resistance. Still, with DeFi sentiment warming up again, CRV’s breakout may indicate early stages of a new upward cycle.
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