Curve DAO’s native token, $CRV, gained more than 16% over the past 24 hours, pushing its weekly performance to approximately 9% as demand for the broader decentralized finance (DeFi) sector increased. The rally coincided with a 174% surge in daily trading volume to about $122 million.
$CRV Market Structure Turns Bullish
$CRV’s latest price action confirms a potential trend shift, with the token trading above its most recent higher high (HH). That high emerged after a bottoming sideways market in which $CRV moved between $0.18 and $0.2877.
The range’s upper boundary at $0.2877 has become an important support zone after $CRV bounced from its 20-day moving average. The altcoin is also trading above both its 20-day and 50-day moving averages.
However, bulls must maintain this market structure if $CRV is to challenge this year’s peak of $0.44. Resistance levels at $0.3851 and $0.3976, identified by moving-average crosses, could create short-term obstacles for the rally.
The broader trend remains healthy, with pullbacks during each upward move ending near the 50% Fibonacci retracement level. $CRV is trading above $0.36, placing it roughly 25% below a new year-to-date (YTD) high.
Source: $CRV/USDT on TradingView
Traders should nevertheless watch for a correction if $CRV bulls fail to keep the price above $0.345.
The Bull Bear Power (BBP) indicator also confirmed the increase in buying activity, as its bars returned to pre-breakout levels. This suggested that demand for the token was strengthening alongside demand for Uniswap [UNI], which also posted double-digit gains.
Curve Finance Network Activity Accelerates
Data from DeFiLlama showed that demand for Curve Finance became particularly evident over the past two days.
The protocol provided deep stablecoin liquidity, with the market capitalization of crvUSD exceeding $283 million. This liquidity supports swaps against other tokens as capital gradually rotates into altcoins.
Active addresses and transactions also rebounded sharply following an extended period of inactivity. Active addresses averaged more than 6,000, while transactions reached approximately 30,000 on each of the past two consecutive days.
Source: DeFiLlama
Curve Finance’s Total Value Locked (TVL) further supported the rise in $CRV demand. TVL increased by more than $300 million during the quarter, climbing from $1.43 billion in July to $1.70 billion.
Together, the network data pointed to growing demand across the wider DeFi sector, supporting the recent rally in $CRV.
