- CRV has surged by 24.79% over the past week.
- With strong bullish sentiment, Curve DAO is well positioned for gains.
After hitting a local low of $0.68 a week ago, Curve DAO [CRV] has maintained a strong upward momentum.
Over this period, CRV has increased by 24. 79% to reclaim the $1 level. Over the past day, the altcoin reached to a high of $1.08. However, it has experienced a slight pullback since then.
In fact, as of this writing, Curve DAO was trading at $0.97. This marked an 8.03% increase on daily charts. Equally, its trading volume increased by 21% to $386 million over the same period.
The current market conditions raised questions about whether CRV is on the verge of a sustained recovery, or whether recent price movements are just mere market corrections.
Is CRV ready for a sustained uptrend?
According to AMBCrypto’s analysis, Curve DAO experienced strong positive sentiments as the downward pressure is dwindled.
Source: Santiment
Firstly, Curve DAO’s exchange flow balance has declined over the past week to hit a negative value of -417.6. This showed that investors are moving their CRV tokens off exchanges.
As such, outflow from exchanges is outpacing inflow, with investors transferring their assets to private wallets.
