Date: Tue, March 11, 2025 | 05:37 PM GMT
The cryptocurrency market is experiencing a strong downtrend, with major altcoins struggling after their rallies in late 2024. Ethereum (ETH), for instance, has dropped from its December high of $4,000 to its current level of $1,900, adding immense pressure across the altcoin market.
One of the hardest-hit top altcoins in this downturn has been Curve DAO Token (CRV), which has suffered a sharp 64% correction over the past 90 days, shaking investor confidence. However, with today’s noticeable gains, CRV is showing resilience at a major breakout level.
Source: Coinmarketcap
Holds Major Breakout Level
According to chart analyst Jonathan Carter , Curve is stabilizing near the breakout level of its falling wedge pattern on the weekly timeframe. Initially, back in November 2024, CRV made a major breakout from this wedge, which had kept its price in consolidation for multiple years. This breakout propelled its price to a December 2 high of $1.33.
However, since then, the token has seen a sharp decline, leading it to retest this breakout trendline. Currently, CRV is trading at $0.38 and showing resilience at this critical support level.
The analyst added that strong support is forming at current levels, with a bullish divergence appearing on the RSI indicator. A confirmed bounce could propel the price toward key resistance targets at $0.53, $0.72, $0.88, and $1.30.
What’s Ahead?
CRV is showing resilience at the key breakout trendline support, and a bounce could ignite a rally. However, broader market sentiment remains negative, which could influence the token’s price movement in the coming weeks.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
