Market Overview for Curve DAO Token/Tether (CRVUSDT) on 2026-01-08

Summary
• Price traded in a tight range between 0.4076 and 0.4306, with a final close near 0.4108.
• A strong sell-off after 12:00 ET suggests short-term bearish momentum, supported by RSI near oversold levels.
• Volume spiked during the morning sell-off but remained mixed later, indicating uneven conviction.
• Bollinger Bands showed a moderate expansion after 04:00 ET, hinting at increased volatility.
• A bearish engulfing pattern emerged around 08:00–09:00 ET, suggesting potential for further downside.

At 12:00 ET on 2026-01-08, Curve DAO Token/Tether (CRVUSDT) opened at 0.4108, with a 24-hour high of 0.4306 and a low of 0.4076, closing at 0.4108. Total volume was 21,687,256.9 and notional turnover reached $8,984,537.34 over the 24-hour window.

Structure & Formations

Price formed a bearish consolidation after reaching 0.4306 around 01:15 ET, with multiple rejection candles at 0.42–0.43 levels. A bearish engulfing pattern developed around 08:00–09:00 ET after a short rally, which may signal a resumption of downward pressure. Notable support levels appear near 0.4103 and 0.4076, with a potential bounce likely in the near term.

Moving Averages

On the 5-minute chart, price closed below the 20-period and 50-period moving averages, reinforcing short-term bearish bias. Daily moving averages (50/100/200) are not directly visible in the dataset but are expected to show a mixed to bearish alignment based on recent 24-hour behavior.

MACD & RSI

The RSI ended near 30, indicating oversold conditions, which could prompt a bounce, though momentum from the MACD appears to have turned bearish in the last 6–8 hours. A reversal in RSI momentum may precede a countertrend move but could also confirm further selling.

Bollinger Bands

Volatility remained relatively stable until 04:00 ET, when a moderate expansion occurred, coinciding with a sharp price decline. Price has since traded near the lower band, with a potential mean reversion opportunity appearing if it holds above 0.4076.

Volume & Turnover

Volume spiked during the sell-off starting at 04:00 ET, reaching over 2.3 million at 13:30 ET. Turnover mirrored the volume pattern, confirming bearish conviction during the morning sell-off but showing mixed signals later as price consolidated.

Fibonacci Retracements

Key Fibonacci levels from the recent swing high (0.4306) to the low (0.4076) suggest 0.4243 (38.2%) and 0.4161 (61.8%) as potential retests. Price is currently near the 61.8% level, and a break below 0.4103 could bring 0.4076 into focus.

Looking ahead, a short-term bounce around 0.4103–0.4130 appears likely in response to oversold RSI and prior support. However, if bearish momentum intensifies and price breaks 0.4076, a deeper correction toward 0.4046 could follow. Investors should monitor for a reversal signal at key support levels and watch for volume confirmation or divergence.