CRV Extends Losses, Eyes $0.46 Target Amid Bearish Pressure

Curve DAO Token (CRV) extended its decline on Wednesday as persistent selling pressure kept the token trapped within a broader bearish market structure. The latest move underscores continued downside risk after buyers failed to reclaim key resistance levels during recent recovery attempts.

Over the past day, CRV has slightly decreased by 1.9%, which makes its weekly loss 12.9%. As I am writing this, the token is trading at $0.347, according to CoinMarketCap. Even with increased trading volume, the price action indicates distribution rather than new buying.

Source: CoinMarketCap

Also Read: Curve DAO (CRV) Price Shows Ascending Channel and Upside Potential

Downtrend Structure Remains Firm Across Higher Timeframes

Within the three-day time frame, CRV remains within a distinct descending channel, making a trail of lower highs and lower lows. This trend stubbornly indicates that sellers are still in control, as each time the rally fails to turn around, the overall trend continues.

Crypto analyst Jonathan Carter notes that the current movement around the $0.34-$0.36 support area appears to be corrective, rather than impulsive. If this level of support cannot be held, the next areas of potential targets for the downside will be around $0.30 and $0.25.

Any short-term positive movement is likely to encounter resistance within the boundaries of the declining channel. Short-term targets for upside resistance are seen at $0.45 and $0.55, while a stronger counter-movement may reach the levels of $0.75 to $0.85. However, these levels are expected to encounter selling pressure unless there is a strong turn in market structure.

Source: @JohncyCrypto

Looking further out, the key barrier and range is between $1.25 and $1.35. Anything above this level would turn the current bearish outlook on its head and open the way to more positive price targets.

Momentum Indicators Continue to Signal Weakness

Momentum indicators suggest a bearish trend. The weekly Relative Strength Index (RSI) is at 37.7, below the middle line of 50 and drifting lower. This indicates weak buying activity and strong selling pressure, even though the market is not yet oversold.

The Moving Average Convergence Divergence (MACD) indicator remains strongly bearish. The MACD line continues to be below the signal line, and the histogram continues to produce more and more negative bars. Based on the data available on the TradingView chart, the increasing gap indicates a strong bearish trend.

Source: TradingView

But momentum will not turn in favor of a true recovery until the momentum indicators stop trending or until a bullish divergence makes its presence known. Until then, the smart money is on more of the same, or even a reversal.

Why This Matters

The failure of CRV to break above the resistance continues to keep the downtrend going, reducing the upside for traders.

The downtrend in a major DeFi governance token, such as CRV, indicates that risk-off sentiment is being experienced in the DeFi market.

Also Read: Curve DAO Token Forecast 2025: Can CRV Bounce Back to $1.71?