The Curve DAO (CRV) token has surged to its highest price in over six months, fueled by a powerful confluence of technical breakouts, aggressive buyer activity, and rapidly tightening on-chain supply metrics.
At press time, CRV was trading just under the psychological $1.00 level, capping off a 42% rally so far this week and marking a remarkable 28.7% surge in the past 24 hours alone.
CRV price breakout above multi-month resistance
The current CRV’s uptrend follows a breakout above a major descending triangle pattern that had capped its upside for months, with the $0.81 level acting as a critical resistance zone.
After consolidating for weeks within a compressing structure, the altcoin decisively broke out on July 16, igniting a wave of algorithmic buying that pushed prices sharply higher within hours.
The pattern’s breakout confirmed bullish technicals and opened the door to significant upside potential, with analysts projecting a measured move toward the $1.30 to $1.50 range if momentum continues to build.
Notably, the rally drove the altcoin to the 78.6% Fibonacci retracement level at $0.9601, further validating the breakout’s strength and setting up a potential push toward the December 2023 peak at $1.2484.
Trading volume surged nearly 98% on the day of the breakout, reaching $795 million and confirming the strength of the move with broad participation.
CRV buyers dominate as exchange supply dries up
While technical patterns offered the initial spark, it was the aggressive return of buyers and deep market participation that gave Curve DAO (CRV) its explosive lift this week.
On-chain data from CryptoQuant shows that CRV exchange netflow plunged to a three-week low of -$2.67 million on July 16, following a similarly sharp drop to -$2.29 million the day prior.
This consistent outflow from centralised exchanges signalled intense accumulation activity, as traders pulled tokens into private storage and sharply reduced the available supply for sale.
Adding to the scarcity narrative, CRV’s stock-to-flow ratio — a widely tracked measure of token scarcity — surged to an all-time high of 71.68, indicating that fewer tokens are circulating relative to total supply.
Historically, such supply constraints have preceded strong rallies in altcoins, particularly when matched with rising demand and speculative positioning.
CRV’s futures markets fuel momentum and bullish sentiment
In the derivatives markets, sentiment turned decidedly bullish as funding rates flipped positive and long positions began to dominate open interest.
At press time on July 17, CRV’s OI-Weighted Funding Rate had climbed to 0.0316, with predictions pointing higher, while the long-short ratio was at 0.9948, according to Coinglass data.
This shift in futures positioning reflected a growing belief among traders that Curve DAO (CRV) would continue to climb, further reinforcing spot demand and supporting upward momentum.
At the same time, momentum indicators added fuel to the fire, with the Relative Strength Index (RSI) hitting 84.7 and the Directional Index (+DI) jumping to 40.5, both signalling sustained strength in the ongoing rally.
A bullish crossover on the MACD, with the line rising to 0.048 above the signal line at 0.007, underscored growing upside momentum, despite signals of overbought conditions.
Key Curve DAO (CRV) price levels to watch in the coming days
Although Curve DAO (CRV) now trades near a psychological milestone, bulls still face critical hurdles that must be cleared for the uptrend to continue toward $1.30 and beyond.
A daily close above $0.9601 would confirm the continuation of the breakout, while reclaiming and holding $1.00 could unlock the next leg toward Fibonacci extension levels near $1.07 and ultimately $1.50.
On the downside, failure to hold the $0.77 support area — previously resistance — could invalidate the bullish structure and trigger a short-term correction toward $0.70.
Nevertheless, with momentum building across technical, on-chain, and derivative indicators, Curve DAO’s rally appears to be entering a new phase of strength driven by fundamentals rather than hype.
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