Curve DAO Gains 6%, Whales Add 13.3M CRV as Price Holds Above $0.75

CRV is up today, trading above $0.75 after defending the 200-day EMA. The bounce comes after an 8.6% drop earlier...

Quick overview

  • CRV is currently trading above $0.75 after a bounce from an 8.6% drop earlier in the week.
  • Large investors have accumulated 13.3M CRV while smaller whales sold 12.56M, indicating a shift in market positioning.
  • The long-to-short ratio for CRV is at 1.01, suggesting more traders are taking long positions.
  • CRV needs to maintain support at $0.71 to potentially reach higher levels of $0.79 and $0.84.

CRV is up today, trading above $0.75 after defending the 200-day EMA. The bounce comes after an 8.6% drop earlier in the week that sent CRV to $0.71.

Big investors are buying the dip. According to Santiment, wallets holding 10-100M CRV added 13.3M between Friday and Tuesday.

Meanwhile, smaller whales sold 12.56M CRV, so mid-tier holders are capitulating while bigger players are buying at a discount.

Whale Activity and Derivatives Data

The whale accumulation matches the improving derivatives sentiment. Coinglass shows CRV’s long-to-short ratio is 1.01, near the monthly high. A ratio above 1 means more traders are long than short.

Key Whale and Derivatives Insights:

  • Whale Accumulation: 13.3M CRV added by large wallets
  • Mid-Tier Selling: 12.56M CRV sold by smaller cohorts
  • Long-to-Short Ratio: 1.01, near monthly high

This is a market positioning shift, where bigger holders see value at current prices and traders are going long.

CRV Technical Levels and Price Outlook

From a technical standpoint, CRV needs to hold $0.71 support at the 200-day EMA. If it does, momentum could take it to $0.79 (50-day EMA on 4-hour chart) and then $0.84.

Curve DAO Price Chart - Source: Tradingview
Curve DAO Price Chart – Source: Tradingview

Momentum indicators are also looking up. RSI has risen from 40 to 50, so bearish pressure is waning. On the 4-hour chart, a bullish RSI divergence is forming—price made lower lows while RSI made higher highs—which is often a early sign of a reversal.

But risks remain. A break below $0.71 and CRV could drop further.

In summary, CRV’s price looks supported by whale accumulation and positive derivatives positioning, so it can continue to bounce if levels hold.

ABOUT THE AUTHOR See More
Arslan Butt
Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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