The Curve DAO Token (CRV) is testing a key support zone within a descending channel, with analysts noting accumulation and growing trading volume. While one analyst outlines potential upside targets, another warns of repeated tests near $0.20. Derivatives data shows a mixed sentiment, with trading volume rising but open interest declining.
On March 30, Curve DAO Token (CRV) showed renewed market activity. The token was trading at $0.2210, marking a 5.57% daily increase with a trading volume of $46.81 million.
Crypto analyst Jonathan Carter highlighted that the token is in a key support area within a descending channel. He also stated that this area is experiencing strong accumulation and outlined upside targets including $0.34.
Another analyst, KhonshuArc, mentioned the token is holding a buy zone but showing weakness. He also noted that the token has been tested at the support level of $0.20 several times, increasing breakdown risk.
He explained a liquidity sweep below $0.20 could clear weaker positions. The analyst described the current stage as accumulation, not decline, and said a move to $0.30-$0.32 would confirm a reversal.
According to CoinGlass data, futures volume increased 9.78% to $128.32 million. Meanwhile, open interest declined by 11.47% to $74.45 million.
The open interest-weighted funding rate stood at 0.0067%. This reflects a slightly bullish sentiment prevailing in the derivatives market.
