The bull rally at the beginning of 2021 has pulled out more new coins within an upward trajectory. Surprisingly, it was the other way round for the Curve DAO token as the asset began the trade with a huge intensity. But very quickly the bears gained immense control over the asset which slashed the price from as high as $60 to less than $10. And ever since then the CRV price is trying hard to surge beyond $6 but faced rejection each.
However, the asset followed the bull run since the beginning of 2021 but still remained aloof from the $5 target. But the last quarter, specifically the present trading month came out to be more fruitful. The asset smashed through the crucial resistance levels and surpassed $5 for the first time ever in the past 14 months. No doubt it’s experiencing a slight pullback, yet may hit higher levels very soon.
As mentioned in the chart, the price ever since dropped mercilessly, is trading within the rectangle. The price is undergoing multiple pumps and dumps but only within the perimeter of the rectangle. However, the asset successfully broke the pattern but also is undergoing a minor correction. The correction may end up quickly and after eliminating exhaustion if any, the asset may resume the bull run targeting a 2-digit figure soon.
The price blew up notably since the beginning of November and rose beyond $5 for the first time. The rally may grow to be more intense and also surge heavily in order to minimize the distance between the current price and the ATH. Also one of the important things to note with this rally is the CRV is been accumulated heavily in a specific region and that’s pretty dangerous.
The analytics showcase that the accumulation in between $17.5 and $30.7 is the largest concentration which is in a loss at present. A total volume of 762.11 million was accumulated in nearly 112 addresses. Moreover, the asset is away from this price range ever since its inception and as the assets reach this zone, a massive sell-off may be on the horizon.
Some traders may still maintain some patience or newbies may enter and eventually uplift the price at least close to the ATH. However, at the current pace, it’s pretty tough for the Curve DAO token price to reach such a higher level. Yet maybe in the upcoming quarter the CRV price, if not ATH, may at least reach halfway.