- The Curve DAO Token (CRV) struggles to break past the $0.57 resistance level.
- CRV has recorded sluggish gains compared to other altcoins.
- Most crypto assets have enjoyed price increases amidst the market rally.
The bullish trend that has persisted in recent weeks has rippled the crypto market, triggering impressive increases for crypto assets such as Bitcoin (BTC), Ethereum (ETH), and numerous altcoins.
However, unlike most, DeFi protocol Curve Finance’s native token, CRV, has struggled to mount significant gains, swinging between slight price highs and major dips.
CRV Stuck at $0.57
Despite reaching $5.76 in the early hours of today and fueling hopes of crossing its week-long resistance level of $0.54 to $0.57, Curve Dao Token (CRV) has hit a roadblock, slipping back into its sea of lows.
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Currently wavering at $0.543, CRV is down 2.47% in the last 24 hours, an approximate 99% from its all-time high trading price of $60.50.
Despite the underperformance, CRV’s current price reflects a bullish trend over the past seven days, up over 7% from a low point level of $0.504
CRV’s resistance counters the prevailing bullish market sentiment. However, it aligns with the price slip of altcoins struggling to uphold their gains from the market surge.
Can Altcoins Hold Rally Gains?
From Ethereum(ETH) to Cardano (ADA) and Solana (SOL), most non-stablecoin assets enjoyed an uptick in price during the market rally.
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However, while most top gainers have since relinquished their gains, others stand strong. Previously trading at the $2,513 mark before the rally, Ethereum (ETH) has climbed approximately 15.97%, now trading over $2,905.
This solidifies ETH’s position as one of the top-performing altcoins this week, upholding its status with sustained upward price movement.
Others, such as SOL and ADA, have lost nearly half their gains, down 3.8% and 5.06%, respectively. At press time, SOL is trading at $106 and ADA at $0.604.
Read more on the cyberattack that affected Curve last year:
Unraveling the Curve Finance Hack, the Causes and Its Impact
Whales forecast Bitcoin to dip below $50,000 price mark before halving:
Bitcoin Whales Are Betting Big on a Pre-Halving Sinkhole
