Currencies34168
Market Cap$ 4.06T-0.41%
24h Spot Volume$ 102.61B-0.43%
DominanceBTC57.96%+0.66%ETH10.85%+1.34%
ETH Gas1.52 Gwei
Cryptorank

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


by Maxwell Mutuma
for CoinEdition
Curve (CRV) Token Jumps 28% in a Massive Short Squeeze
  • 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 f…

The post Curve (CRV) Now on Breakout Watch After a Short Squeeze Pushes It to $1.00 appeared first on Coin Edition.

Read the article at CoinEdition

Read More

Dogecoin (DOGE) Price Prediction for July 25

Dogecoin (DOGE) Price Prediction for July 25

After rising above $0.29 earlier this month, Dogecoin price today has reversed sharpl...
Shiba Inu Price Falls 12% After Rejection From Key Resistance

Shiba Inu Price Falls 12% After Rejection From Key Resistance

Shiba Inu (SHIB) continues to face mounting pressure as market sentiment turns cautio...

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


by Maxwell Mutuma
for CoinEdition
Curve (CRV) Token Jumps 28% in a Massive Short Squeeze
  • 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 f…

The post Curve (CRV) Now on Breakout Watch After a Short Squeeze Pushes It to $1.00 appeared first on Coin Edition.

Read the article at CoinEdition

Read More

Dogecoin (DOGE) Price Prediction for July 25

Dogecoin (DOGE) Price Prediction for July 25

After rising above $0.29 earlier this month, Dogecoin price today has reversed sharpl...
Shiba Inu Price Falls 12% After Rejection From Key Resistance

Shiba Inu Price Falls 12% After Rejection From Key Resistance

Shiba Inu (SHIB) continues to face mounting pressure as market sentiment turns cautio...