The cryptocurrency market remains volatile, with Ethereum (ETH) currently trading around $4,450, down from its recent peak of $4,954. Despite this, several altcoins are showing signs of recovery, including Curve DAO Token (CRV), which is gaining attention with a promising technical signal hinting at a potential rebound.
On the daily chart, CRV is forming a bearish ABCD harmonic pattern. Despite its bearish name, this type of structure often presents a strong upward movement in the CD leg before the price eventually tests its potential reversal zone (PRZ).
The setup began with a rise from point A ($0.4918) to point B, followed by a retracement to point C ($0.7481) where buyers managed to defend the 100-day moving average. Since then, CRV has bounced to approximately $0.7838, suggesting that the CD leg might now be unfolding.
A critical test is approaching at the 50-day moving average at $0.9062. A decisive breakout and sustained movement above this resistance would strengthen the bullish outlook, indicating that the harmonic projection is in play.
If bulls maintain their momentum and push CRV above the 50-day moving average, the token could extend further toward the Fibonacci potential reversal zone at 1.62, approximately $1.411. Such a development would represent an upside potential of more than 80% from current levels, which should certainly interest traders.
However, risks remain. A breakdown below the 100-day moving average support at $0.7578 would invalidate the pattern, exposing CRV to renewed downward pressure and possible retracements to lower support levels.
The Curve DAO token (CRV) presents an intriguing technical signal, with the formation of a bearish harmonic pattern that could potentially turn bullish. If bulls maintain their momentum, CRV could soar toward higher peaks, offering traders enticing upside potential. However, investors must remain vigilant about the downside risks that persist.
Currently, CRV is trading around $0.77. You might consider buying this token on Bitget to take advantage of a potential short-term rebound.
Here’s how to buy the Curve (CRV) token on Bitget:
Related topics:
Passionate about cryptocurrencies since 2019, I cover the latest news through clear and accessible articles. My goal is to make crypto understandable for everyone, with reliable and well-researched content.
DISCLAIMER
This article is for informational purposes only and should not be considered as investment advice. Trading cryptocurrencies involves risks, and it is important not to invest more than you can afford to lose.
InvestX is not responsible for the quality of the products or services presented on this page and cannot be held liable, directly or indirectly, for any damage or loss caused by the use of any product or service featured in this article. Investments in crypto assets are inherently risky; readers should conduct their own research before taking any action and invest only within their financial means. This article does not constitute investment advice.
Risk Warning : Trading financial instruments and/or cryptocurrencies carries a high level of risk, including the possibility of losing all or part of your investment. It may not be suitable for all investors. Cryptocurrency prices are highly volatile and can be influenced by external factors such as financial, regulatory, or political events. Margin trading increases financial risks.
CFDs (Contracts for Difference) are complex instruments with a high risk of rapid capital loss due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should assess whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Before engaging in financial or cryptocurrency trading, you must be fully informed about the associated risks and fees, carefully evaluate your investment objectives, level of experience, and risk tolerance, and seek professional advice if needed. InvestX.fr and the InvestX application may provide general market commentary, which does not constitute investment advice and should not be interpreted as such. Please consult an independent financial advisor for any investment-related questions. InvestX.fr disclaims any liability for errors, misinvestments, inaccuracies, or omissions and does not guarantee the accuracy or completeness of the information, texts, graphics, links, or other materials provided.
Some of the partners featured on this site may not be regulated in your country. It is your responsibility to verify the compliance of these services with local regulations before using them.
