Curve's 43% pop looks cute, but the higher-timeframe downtrend didn't get the memo 📉

Curve DAO (CRV) has climbed roughly 35% to 43% over the past five days, with the rally dating to Saturday, 6 June. Trading volumes strengthened notably in the prior two sessions, accompanying the price gains.

The move comes after an earlier AMBCrypto report in May identified a potential rally if the token flipped the $0.23 area to support, while cautioning that a drop below $0.217 would shift control to the bears. The bearish scenario played out in the weeks that followed, with CRV printing a new lower low at $0.17 and extending the downtrend on the 1-day timeframe.

On the 4-hour timeframe, the RSI reached overbought conditions as buyers pressed against the $0.245 local resistance zone. A close above $0.2461 would open a path toward the 78.6% Fibonacci retracement level at $0.2668, according to the earlier technical analysis. Liquidation heatmap data showed clusters of short liquidations overhead, with a magnetic zone between $0.247 and $0.263 and a more ambitious cluster near $0.295.

Despite the short-term momentum, the broader trend remained downward, and the relief rally's setup, including the overbought RSI, pointed to a likely exhaustion of buying pressure. A short squeeze toward the mapped liquidation levels remained possible, but the higher-timeframe bias stayed bearish.