- CRV has surged by 7.33% over the past 24 hours.
- Curve Dao defies markets odds amidst increased accumulation.
While Bitcoin [BTC] and other altcoins have experienced some downturns, Curve DAO [CRV] is shaping its own path.
After hitting a low of $0.687, Curve Dao has gained on its price charts for three consecutive days.
Over the past few days, the altcoin has managed to hit a high of $0.93. At the time of writing, Curve Dao was trading at $0.836. This marked a 7.33% increase in 24 hours. Prior to these gains, CRV was on a downward trajectory, declining by 22.94% on weekly charts.
With the trend reversal seem inevitable, the question that arises is whether CRV can continue to defy the bearish trend experienced within the crypto markets and continue with the uptrend.
What CRV charts indicate
According to AMBCrypto’s analysis, Curve Dao is building an upward momentum amidst increased accumulation from retail traders and whales.
Source: Santiment
For starters, we can see this increased accumulation among large holders with the increase in the supply held by whales, from 1.44 billion to 1.48 billion.
Thus, whales have bought 400 million tokens over the past weeks. When whales turn to accumulation, it shows their confidence in the market and anticipates prices to gain in the near future.
