Curve (CRV) Now on Breakout Watch After a Short Squeeze Pushes It to $1.00

• The Curve DAO Token (CRV) has surged nearly 28% in the last 24 hours, pushing toward the $1.00 mark
• The rally was fueled by a massive short squeeze that liquidated over $3.9 million in bearish derivative positions
• The token is now testing the key $1.00 psychological resistance level for a further breakout

The price of the Curve DAO Token (CRV) has exploded by nearly 28% in the last 24 hours, a rally that was fueled by a massive short squeeze that wiped out $3.9 million in bearish bets.

The move pushed the price from a low of $0.7853 to just under the key $1.00 psychological level, a mark it has not seen in months. The squeeze has ignited renewed interest in the DeFi token, with trading volume spiking alongside the price.

A Look at the $3.9 Million Short Squeeze

This latest surge appears to have been massively accelerated by a classic short squeeze. This happens when a rising price forces traders who were betting against the asset to rapidly buy back their positions to cover their losses, which in turn pushes the price up even faster.

Related: Buy Curve Finance (CRV)? Analyst Sees ‘Perfect Retest’ as Entry Signal

According to liquidation data from Coinanalyze, the past 24 hours saw $4.6 million in total leveraged positions wiped out. The vast majority of those, nearly $3.9 million, were short positions.

This shows that many traders were caught completely off guard by the rapid price surge. The data indicates that the exchanges OKX and Binance recorded the bulk of these liquidations, each handling nearly $2 million in closed short positions.

CRV’s Climb to the $1.00 Mark

CRV has formed a strong uptrend, marked by a consistent pattern of higher highs and higher lows. The current price trend reflects growing market confidence, as the asset now hovers near the $1.00 barrier. 

This level carries significant psychological weight and technical importance. A breakout above $1.00, especially with sustained volume, could open the path toward the $1.05 to $1.10 range, the next key resistance zone based on prior trading history.

Support levels appear firmly established. The $0.90 region served as a consolidation base before the latest leg up and will likely act as near-term support. 

Below that, $0.85 has shown strength with repeated price interaction. If the market turns, $0.7853 marks the foundation of the recent rally and would be a critical support to monitor.

Technical Signals Support CRV’s Bullish Outlook

Several indicators reinforce the bullish narrative. The MACD shows a clear bullish crossover, with the MACD line climbing above the signal line. This indicates rising momentum and growing buying strength. The histogram remains in positive territory, suggesting the trend has not yet exhausted.

Related: Curve DAO (CRV) Price Prediction 2025–2030: Will It Break Past $1 in 2025?

RSI is also trending upward, currently sitting at 57.29. Although not yet in overbought territory, it’s approaching the 70 level, suggesting increasing demand but not overextension. This leaves room for more upside if volume continues to support the rally.