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Curve CRV Plunges to $0.79 as Technical Breakdown Accelerates Following Major Sell-Off
Curve CRV Plunges to $0.79 as Technical Breakdown Accelerates Following Major Sell-Off
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Curve CRV News -
Curve's CRV token dropped 3.86% to $0.79 as technical indicators turned bearish following a dramatic reversal on August 25. The token now faces potential further downside after failing to maintain crucial support levels.
A bearish engulfing pattern emerged during last week's sell-off when CRV surged to $0.9382 before collapsing to $0.8230 on massive volume of 29.6 million tokens traded. This technical damage continues to pressure market sentiment, with traders liquidating positions NEAR intraday highs.
Before the breakdown, CRV showed brief stabilization between $0.8818-$0.8826 on August 21. The current neutral RSI reading of 41.87 and bearish MACD crossover indicate weakening momentum as the market digests last week's volatility.
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