Market Overview for Curve DAO Token/Tether (CRVUSDT)

Summary
• Price action on CRVUSDT saw a bearish 5-minute engulfing pattern near 0.4216.
• RSI remains in oversold territory below 30, suggesting potential for a short-term rebound.
• Volatility increased as the 20-period Bollinger Band width widened through 0.4105.
• Volume spiked during the 0.4147–0.4086 decline, reinforcing bearish momentum.
• Key support appears at 0.4052 with a possible retest expected in the near term.

CRVUSDT opened at 0.419, reached a high of 0.4235, and closed at 0.4083 by 12:00 ET, with a low of 0.4020. Total 24-hour trading volume was 7,446,405.4, and notional turnover reached approximately $3,033,350. The pair experienced a distinct bearish drift amid a key support test.

Structure & Formations

Price tested key support at 0.4052 after forming multiple bearish candlestick patterns, including engulfing and bearish harami.

A bearish 5-minute engulfing pattern at 0.4216 marked a turning point. The price may find temporary resistance at 0.4105, with further support levels emerging near 0.4035 and 0.4020.

Moving Averages and Momentum

The 20-period and 50-period moving averages on the 5-minute chart remained bearishly aligned, reinforcing the downward trend. The RSI remains in oversold territory, hinting at possible near-term stabilisation. The MACD crossed below the signal line, indicating fading bullish momentum.

Volatility and Bollinger Bands

The 20-period Bollinger Bands expanded significantly as the price moved from 0.4235 to 0.4020, indicating increased volatility. Price has since bounced near the lower band, suggesting a possible rebound may be forming.

Volume and Turnover Analysis

Volume spiked during the 0.4147–0.4086 decline, with the most significant turnover occurring during the 0.4107–0.4058 sell-off. While price has continued lower, volume has not maintained the same intensity, suggesting exhaustion in the short term.

Key Fibonacci Levels

Applying Fibonacci retracement to the 0.4235–0.4020 move, key levels include 0.4131 (38.2%) and 0.4080 (61.8%). The current price is near the 61.8% level, suggesting a possible short-term bounce or consolidation phase.

The market appears to be in a consolidation phase following a strong bearish move, with price near key Fibonacci support. Investors may watch for a potential rebound from 0.4052, though volatility and volume patterns suggest a cautious approach.