Market Overview for Curve DAO Token/Tether (CRVUSDT) - October 9, 2025

• Price declined 13.9% over 24 hours, forming a bearish trend with key resistance near 0.7566 and support at 0.7204
• RSI entered oversold territory below 30, suggesting potential near-term bounce, though momentum remains bearish
• Volume spiked during the sharp drop overnight, confirming bearish conviction after a failed rebound attempt
• Bollinger Bands widened significantly during the sell-off, indicating heightened volatility and unclear trend direction
• A potential reversal pattern is forming near 0.7443–0.7470, with bearish continuation expected if key support levels hold

Curve DAO Token/Tether (CRVUSDT) opened at 0.748 on October 8 at 12:00 ET, reached a high of 0.7682, and closed at 0.7372 as of 12:00 ET on October 9. Total volume for the 24-hour period was 18,181,211.8, and notional turnover amounted to approximately $13,595,319. A sharp sell-off emerged overnight after failed attempts to reclaim key resistance levels.

Structure & Formations

Price formed a bearish continuation pattern during the overnight hours, with key support at 0.7204 being tested and briefly broken. A strong bearish engulfing pattern was observed at 0.7373–0.7423, suggesting continued downward momentum. Additionally, a doji near 0.7408–0.7412 hinted at indecision but failed to reverse the downward trend. Resistance at 0.7566 and support at 0.7443 became critical levels, with price failing to break above the former and finding temporary bids near the latter.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are both in bearish alignment, with price well below both. The 50-period line sits near 0.7475, and the 20-period is closer at 0.7455. On the daily chart, the 50/100/200-period lines are also in a downtrend, with the 200-period averaging near 0.755, reinforcing the bearish bias.

MACD & RSI

MACD remains in negative territory with a bearish histogram, confirming the downward thrust. RSI has entered oversold levels (<30), potentially signaling a near-term bounce, though it has failed to generate a meaningful rebound despite the low reading. Momentum remains weak, and a break below 0.7334 could drive RSI further into oversold conditions.

Bollinger Bands

Bollinger Bands have widened significantly during the sell-off, indicating increased volatility. Price has traded well below the 2σ lower band, with the band itself expanding downward as volatility persists. This expansion suggests heightened uncertainty and potential for a short-term bounce or further decline depending on support levels.

Volume & Turnover

Volume surged during the sharp sell-off between 00:00–03:00 ET, with the largest volume spike at 0.7335–0.7372. Notional turnover mirrored the price movement, confirming bearish conviction during the overnight hours. However, volume has declined slightly in recent 15-minute intervals, suggesting a temporary pause in selling pressure. Price and volume remain aligned in the bearish trend.

Fibonacci Retracements

Fibonacci retracement levels applied to the recent 15-minute swing from 0.7443 to 0.7682 show 0.7571 (38.2%) and 0.7521 (61.8%) as key levels that were tested but failed to hold. On the daily chart, a major move from 0.7558 to 0.7617 saw price fall back below the 38.2% retracement level at 0.7591, reinforcing the bearish narrative.

Backtest Hypothesis

Given the recent bearish momentum and the RSI entering oversold conditions, a potential short-term reversal setup could be backtested. A strategy involving a long entry near the 0.7335–0.7372 support zone, with a stop-loss just below 0.7304, and a take-profit near 0.7443 could be evaluated. This approach would aim to capture a rebound off the oversold RSI and key Fibonacci support levels while managing risk with tight stop-loss placement.