Curve DAO skyrockets 24% in 7 days: Can CRV break through the $1.16 mark?

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With bullish sentiment rising, Curve DAO (CRV) has surged strongly in the past week, with an increase of 24.79%. This performance has sparked discussions in the market about whether it is on the brink of sustained recovery or just a short-term market adjustment.

Is CRV ready to embrace a continuous upward trend?

According to AMBCrypto's analysis, as downward pressure eases, Curve DAO has entered a strong bullish phase. Since hitting a low of $0.68 a week ago, CRV has rebounded to $1, reaching a short-term high of $1.08 despite a slight pullback, with the trading price at the time of publication being $0.97, up 8.03%.

Capital flow and investor confidence

CRV's trading volume has increased by 21% in the past 24 hours, reaching $386 million. Meanwhile, Curve DAO's exchange flow balance has dropped to a negative value of -417.6, indicating that more investors are transferring their assets to private wallets, particularly with significant outflows from whale holders. According to data from IntoTheBlock, the net flow of large holders relative to the net flow on exchanges has decreased from 1.38% to -0.32%, which is typically a bullish signal.

Additionally, demand for long positions on Binance is strong, with Binance's funding rate remaining positive, indicating that bullish traders are willing to hold positions during market downturns.

Strong bullish sentiment

In the short term, CRV investors are generally bullish, with Coinglass data showing that in the 4-hour time frame, longs dominate the market with a ratio of 52%. This indicates that investors are generally betting that CRV prices will continue to rise.

Future outlook

If bulls can maintain market dominance, CRV is expected to break through $1.12, progressing further towards $1.16. However, if sellers regain control of the market, CRV could pull back to $0.87.

In summary, Curve DAO shows strong upward momentum, with clear potential recovery signals; investors should pay attention to market capital flows and key technical levels.

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