Curve DAO Strong Rebound, Will CRV Start the Next Surge?

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Curve DAO (CRV) has shown a strong rebound since hitting a low of $0.68 last week, rising 24.79% in just a few days and returning to the $1 mark. Despite a recent pullback, CRV is currently at $0.97, with a daily increase of 8.03%, and trading volume has surged by 21%, reaching $386 million.

So, is this surge just a flash in the pan, or is it a sign that CRV is about to continue its recovery?

Whales Take Action: Capital Outflow Signals

The net flow of CRV on exchanges has recently dropped to -417.6, indicating that more tokens are being transferred to private wallets, which typically signals a bullish sentiment in the market. Notably, whale accounts have seen their net flow decrease from 1.38% to -0.32%, suggesting that large holders are accumulating CRV.

Strong Holding Intent: Bulls Dominate the Market

The bullish demand on Binance remains strong, with the financing rate staying positive for 5 consecutive days, indicating that traders are willing to pay extra for bullish positions. According to Coinglass data, bulls account for 52%, showing investors' confidence in short-term price increases.

Market Outlook: Upward Potential Expected

CRV is currently strongly supported by bulls, while the accumulation actions of whale accounts have reinforced market confidence. If overall trading volume continues to grow, CRV is expected to challenge $1.08, and may even break higher resistance levels.

Current on-chain and market data are sending positive signals, suggesting that Curve DAO may enter a continuous upward channel. However, investors should still be wary of market pullback risks and closely monitor trading volume and whale movements to seize the best opportunities!

Click on the avatar to watch live and catch the bull market!