๐๐๐ Curve (#CRV ) Bounces 40% From All-Time Low As Whales Go On Shopping Spree
Curve Finance's CRV Token: Recent Price Movement and Analyst Outlook
Curve Finance's CRV token recently experienced a significant 30% price drop following the liquidation of the CEO's lending positions, which exacerbated market volatility. This decline saw CRV plummet nearly 40% to an all-time low of $0.20 from its previous range of $0.35-$0.37. Despite initial concerns, Curve Finance took swift action to stabilize the token's price, leading to a weekend recovery that briefly reclaimed the $0.30 support level.
However, early this week, CRV slipped below this support, trading between $0.27 and $0.29. By Tuesday afternoon, positive momentum returned, with CRV recording nine consecutive hourly gains. As of the latest update, CRV has rebounded by over 40% from its low, briefly touching above $0.355 and currently trading around $0.33.
Whales seized the opportunity during the dip, accumulating over 50 million CRV tokens worth approximately $19.4 million. Notably, five of these whales were first-time accumulators, signaling renewed interest post-recovery.
Analysts remain bullish on CRV's future. Trader Follis expects strong performance, suggesting CRV could lead the way in doubling from recent lows despite the initial price drop.
CrediBull identified a bullish 5-wave pattern in CRV's price action, setting a near-term target of $2. Trader Sanchez also anticipates a significant bounce, interpreting the recent dip as part of a broader bullish trend.
Despite recent volatility, CRV has shown resilience and continues to attract positive forecasts from analysts, indicating potential for significant growth in the near future.
Source - newsbtc.com
