Curve DAO Token CRV surges 25% breaking key resistance at $0.85

Curve DAO Token (CRV) has recently demonstrated a significant bullish move, breaking through a key horizontal resistance level between $0.78 and $0.85. This breakout was accompanied by a peak volume of 26.72M, indicating strong buying pressure and reinforcing the conviction behind the bullish trend continuation. The price surged beyond $0.85, confirming a bullish breakout and shifting the key supply into firm support.

The breakout from the descending channel and the horizontal resistance zone signals a trend reversal, with bulls likely targeting $1.10 and $1.25 in the coming sessions. The strong rejection near $1.00 shows some profit-taking, but the bullish trend remains intact as long as the price holds above $0.85. The broken resistance between $0.78 and $0.85 now acts as key support, and if CRV continues to hold above this zone, upside targets become realistic.

CRV has cleared key moving averages, including the 9-day EMA ($0.7407) and the 50-day SMA ($0.6116), confirming the strength of the bullish move. The breakout candle even reached $0.9696 before retracing slightly to $0.9204. This strong rejection near $1.00 shows some profit-taking, but the bullish trend remains intact as long as the price holds above $0.85.

If the price dips below $0.85, CRV might revisit the breakout zone, offering a strong re-entry opportunity for bulls. Additionally, the 9-day EMA provides short-term support to monitor. In general, bulls have solid control, and in the coming days, CRV will need to consolidate above critical levels to keep its upward momentum. Currently, CRV is trading at $1.00, indicating some continued interest from investors.

The recent rally in CRV is part of a broader trend of increased interest in decentralized finance (DeFi) tokens. DeFi has emerged as one of the most exciting and innovative sectors within the cryptocurrency industry, offering a range of financial services and products that are built on blockchain technology. As the DeFi ecosystem continues to grow and evolve, it is likely that we will see increased demand for tokens like CRV, which play a key role in the functioning of DeFi platforms.