Market Overview for Curve DAO Token/Tether (CRVUSDT) - October 7, 2025

• CRVUSDT experienced a strong bearish reversal over 24 hours, closing near intraday lows.
• RSI and MACD signaled bearish momentum and oversold conditions during the second half of the day.
• Volatility expanded as price dropped below key support levels and volume spiked during the decline.
• A potential consolidation phase appears likely ahead of the next directional move.

Curve DAO Token/Tether (CRVUSDT) opened at $0.7896 on October 6 at 12:00 ET and traded as high as $0.7975 before closing at $0.7582 by 12:00 ET on October 7. The 24-hour trading range spanned from a high of $0.7975 to a low of $0.7537. Total volume amounted to 15,857,968.5 with notional turnover of $12,186,255.85, indicating heightened bearish sentiment and a significant distribution phase.

Structure and formations suggest a strong bearish trend, with a key support area forming near $0.7663–0.7696 (a consolidation range earlier in the day) and a critical resistance near $0.791–0.7958. A bearish engulfing pattern emerged during the 19:30–20:00 ET window, reinforcing the downward pressure. A doji at $0.7752–0.7753 also signaled indecision following a sharp sell-off.

On the 15-minute chart, the 20-period and 50-period moving averages were both trending downward, confirming the bearish bias. On a daily basis, the 50-period MA is near $0.7875, acting as a psychological resistance. The MACD (12,26,9) crossed below the signal line with a negative divergence from price, while RSI (14) dipped into oversold territory below 30 for most of the latter half of the day, suggesting potential near-term exhaustion in the downtrend.

Bollinger Bands widened significantly during the late evening hours, indicating increased volatility. Price traded near the lower band in the final hours of the window, suggesting bearish dominance. A potential contraction may follow to confirm a short-term bottom.

Volume and turnover spiked sharply between 19:30–22:00 ET as price dropped from $0.7958 to $0.7703, with the largest 15-minute turnover spike at $0.7703 (notional value of $970,780.20). This confirms strong selling pressure and a distribution event. The divergence between price and turnover was minimal, suggesting consistent bearish conviction.

Fibonacci retracement levels from the 0.7975–0.7537 swing show 61.8% near $0.7663–0.7696 and 38.2% near $0.7831–0.7843. The price found temporary support at 61.8% during the early morning hours but failed to break above it, reinforcing bearish control.

The backtesting strategy provided hinges on identifying sharp bearish engulfing patterns confirmed by volume surges and oversold RSI conditions. Such a setup appears to have materialized on CRVUSDT during the 19:30–20:00 ET time window. A backtest would need to evaluate the success rate of entering a short position at the close of the engulfing candle with a stop above the high and a target near the 61.8% Fibonacci level. The recent price action aligns well with the described conditions, making it a strong candidate for historical validation.