Curve DAO Token (CRV) surges 5% as bullish momentum builds

Curve DAO Token (CRV) has been making significant strides in the cryptocurrency market, with a 5% increase today and a 42% weekly rally. This surge is part of a broader bullish momentum that has seen Bitcoin (BTC) hit a new all-time high of $123,000 and Ethereum (ETH) recording an 18% weekly gain. Technical analysts are particularly interested in a harmonic pattern forming on CRV’s daily chart, which suggests further upside potential.

On the daily timeframe, CRV is forming a Bearish Bat harmonic pattern, a classic formation in technical analysis often associated with powerful price moves, especially during the final CD leg. This pattern starts at point X near $1.33, falls to point A, rallies to point B, and dips again to point C around $0.49. Since that low, CRV has rebounded strongly and is now trading around $0.72, indicating structural strength and momentum.

If the CD leg completes, CRV could rally toward the Potential Reversal Zone (PRZ) between $1.22 and $1.33. These areas align with the 0.886 and 1.0 Fibonacci extensions, which often act as reliable reversal or take-profit levels in harmonic patterns. If CRV maintains its upward momentum and breaks above nearby resistance levels, the price could climb over 70% from current levels to hit the $1.33 target. This would complete the harmonic structure and may become a critical point where traders reassess direction, potentially triggering a pullback or consolidation.

However, holding above the 200-day moving average, which currently sits near $0.63, is crucial. A drop below this level may invalidate the bullish setup and introduce short-term downside risk. Despite this, the pattern remains intact, and with broader market sentiment skewing bullish, CRV could be setting the stage for another strong leg upward.