By Franklin Smith
Curve’s CRV was among the week’s top gainers after surging nearly 40%. Assessing the coin’s price chart shows an impressive upswing for 2022 lows.
The altcoin saw remarkable upticks as the overall market noted improved sentiments. CRV gained more than 38% to join the weekly leaders in the top 100 cryptos by market value.
Also, CRV was among the top performer on Wednesday (July 6), following a 10% surge that pushed it towards the $0.99 highs. Such peaks show CRV surged approximately 72% from its 2022 lows of $0.53.
Meanwhile, the alternative token has struggled without significant bullishness since March 2022. The alt saw a 72% uptick over the past three weeks, which surpassed the 66% surge recorded between March 14 and April 3.
The MFI (Money Flow Index) shows massive accumulation contributed to CRV’s recent upswing. That impressive rally saw the token conquering all bearish frictions near the RSI’s (Relative Strength Index) midpoint.
Moreover, the AO (Awesome Oscillator) flashed minor green bars beyond the zero mark. CRV changed hands near $0.95 during this publication.
Curve Riding Bullish Waves
The whale transaction metric notes whales’ return as the Money Flow Index highlighted heavy accumulation. The whale transfer index recorded surged activity for transactions worth over $100K.
This uptick coincides with the swift upsurge in supply controlled by the leading addresses index. The latter bottom on June 28 at 78.24, following declines throughout the month. That reflects bearish actions for the asset in June.
Meanwhile, top address supply noted an 80.66% growth by July 5. Moreover, this accumulation corresponds with impressive network growth seen since July 28. And it happens to be the time whales began accumulating.
CRV Healthy; But
Curve’s on-chain index shows whales commanded the latest upswing. That might signal a bottom for CRV, and that price remained primed for more upside. Nevertheless, enthusiasts should watch the Wyckoff-style within the marketplace.
Any upswing might comprise wild fluctuations and possibly lower lows conflicting with anticipations. It remains interesting to witness what up-and-coming sessions would bring.
We have more updates coming your way. Stay around.
Editorial credit: FellowNeko / shutterstock.com
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