Butterfly Configuration: CRV's Route Toward a Bullish Turnaround

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Butterfly Configuration: CRV's Route Toward a Bullish Turnaround

Bitget-RWA2025/11/24 14:26

By:Bitget-RWA

- Curve DAO Token (CRV) stabilizes near $0.4447 after 16% decline, forming a bearish Butterfly harmonic pattern suggesting potential bullish reversal. - Key support at $0.3991 holds critical validity for the pattern, with a successful rebound potentially targeting $0.6537-$0.7260 Fibonacci extensions. - Immediate resistance at $0.4975 (40-day MA) and broader market weakness, including Ethereum's 22% 30-day drop, complicate CRV's recovery trajectory. - Failure to defend $0.3991 support could invalidate the

The

Curve DAO Token

(CRV) is at a pivotal moment, with both price movement and technical signals hinting at a possible trend reversal ahead. Following a 16% drop that mirrored the weakness across the altcoin sector, CRV has found support around $0.4447, drawing fresh attention from market participants. On the daily chart, a bearish Butterfly harmonic pattern—often linked to bullish reversals—has started to form,

suggesting buyers could be preparing for an upward move

if crucial support levels remain intact.

This pattern began with a low at $0.5968 (Point X), then moved down to Point A, rebounded to Point B near the 0.763 Fibonacci retracement, and fell again to Point C at $0.3991. The area around Point C has become a key support, with

CRV

maintaining its position above this threshold despite overall market weakness.

Experts highlight

that as long as CRV stays above $0.3991, the harmonic pattern remains valid, increasing the odds of a bullish CD-leg, which typically sees prices climb toward the Potential Reversal Zone (PRZ).

The first significant resistance is at the 40-day moving average, close to $0.4975. Regaining this level would further support the case for a reversal, potentially driving CRV toward the PRZ between $0.6537 and $0.7260. These targets align with the 1.272 and 1.618 Fibonacci extension levels, serving as a crucial test for the pattern.

On the other hand, if

the $0.3991 support fails, the pattern could be invalidated, possibly leading to deeper losses before any significant recovery can occur.

Wider market dynamics add further uncertainty to CRV’s outlook. Ethereum’s 22% slide over the last month has intensified selling pressure on altcoins, and CRV has followed suit. Although the token’s recent stabilization points to renewed short-term demand, ongoing momentum will rely on the broader market environment and the stance of institutional investors.

Experts warn

that unless CRV breaks above the downward trend line from $3.10 or surpasses the 50-day EMA at $2.16, bearish sentiment is likely to persist.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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