Recent Elliott Wave analysis by CredibleCrypto indicates that Curve DAO Token (CRV) is currently navigating a critical phase in its market cycle. After completing its initial impulse wave, CRV is now in a subwave 2 correction, setting the stage for potential bullish movements ahead. The report highlights positive developments indicating that investors may soon see a turnaround in CRV's price trajectory.
CRV's Local Lows and Support Levels
According to the analysis, CRV has established local lows around 0.455, which are identified as crucial support levels. A drop below this threshold could invalidate the bullish outlook, while short-term targets are projected at 0.8339.
Curve Finance's Roadmap for 2025
This technical perspective is bolstered by Curve Finance's recently unveiled roadmap for 2025, which includes significant developments such as:
- Yield Basis
- Bitcoin integration
Current Trading Status and Market Analysis
Enhancing CRV's standing in the DeFi ecosystem. As of October 3, CRV was trading at 0.7739, reflecting a 6.7% recovery from its previous lows. The analysis suggests that the second subwave is preparing for an extension, echoing historical patterns where liquidity protocols like Curve often lead market rotations in the DeFi sector. However, investors should remain cautious, as Bitcoin's volatility poses potential risks that could impact CRV's price trajectory.
