The post Curve DAO surges 24% in 7 days: Is $1.16 ahead for CRV? appeared on BitcoinEthereumNews.com.

contributor Posted: December 30, 2024 CRV has surged by 24.79% over the past week. With strong bullish sentiment, Curve DAO is well positioned for gains. After hitting a local low of $0.68 a week ago, Curve DAO [CRV] has maintained a strong upward momentum. Over this period, CRV has increased by 24. 79% to reclaim the $1 level. Over the past day, the altcoin reached to a high of $1.08. However, it has experienced a slight pullback since then. In fact, as of this writing, Curve DAO was trading at $0.97. This marked an 8.03% increase on daily charts. Equally, its trading volume increased by 21% to $386 million over the same period. The current market conditions raised questions about whether CRV is on the verge of a sustained recovery, or whether recent price movements are just mere market corrections. Is CRV ready for a sustained uptrend? According to AMBCrypto’s analysis, Curve DAO experienced strong positive sentiments as the downward pressure is dwindled. Source: Santiment Firstly, Curve DAO’s exchange flow balance has declined over the past week to hit a negative value of -417.6. This showed that investors are moving their CRV tokens off exchanges. As such, outflow from exchanges is outpacing inflow, with investors transferring their assets to private wallets. Source: IntoTheBlock This outflow is observed even more strongly from whales. According to IntoTheBlock, Large Holders Netflow to Exchange Netflow Ratio has dropped from 1.38% to -0.32%. When this drops to a negative value, it implies that whales are in the accumulation phase, which is often a bullish signal. Importantly, with large holders moving their CRV tokens off exchanges, it reflects their confidence in the market, and they are unlikely to sell soon. Source: Santiment Additionally, Curve DAO is experiencing a strong demand for long positions on Binance. As…

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Filed under: News - @ December 30, 2024 12:03 am