Curve DAO Token Breaks Out of Falling Wedge, Eyes More Upside

• Curve DAO Token (CRV) targets $1 as it breaks out from a falling wedge pattern.
• CRV price indicates bullishness as it has surged by 15% in the last 24 hours.

Curve DAO Token (CRV) price break out of the falling wedge pattern suggesting bullish momentum on both daily and weekly timeframes. The price currently retesting the breakout zone and preparing for an upside rally.

CRV experienced a 15% price increase during the previous 24 hours which made it one of the day’s highest performers. The weekly chart shows CRV breaking out from a falling wedge pattern after spending two years in consolidation. The price movement indicates a positive reversal potential when it crosses above $1.

The investor sentiment toward CRV potential upward movement becomes more optimistic based on LunarCrush data. It is expected that price could benefit from CRV’s growing stablecoin narrative.

Moreover, the social engagement of the Curve DAO Token has also increased. The surge in social metrics suggests increased investors’ interest in CRV token. And this was witnessed in daily trading volume also as it surged by 64% in the last 24 hours. 

Will Curve DAO Token (CRV) Break Above $1 Mark? 

Source: Tradingview

On the daily timeframe, CRV price is trading in the upward direction breaking above the 50-day EMA ($0.5069) level. However, for a fresh bullish rally price has to break above the 200-day EMA ($0.5513) mark.

Moreover, the MACD indicator is also suggesting bullish as it trading in a bullish zone with a green histogram. On the other hand, RSI is also heading in the upper direction suggesting positive momentum.

If CRV price successfully sustains above the breakout zone and heads upwards it could reach $1.40, and $2.15 levels in upcoming weeks. However, to attain these target prices has to clear the $0.80 and $0.90 resistance levels.

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