Curve Dao Price Spikes 18% Following Trump’s IRS Rule on Crypto – Bulls Target $0.83
Highlights:
- The Curve Dao price has spiked 18% to $0.61 as bulls regain dominance.
- The trading volume supports the recent breakout, surging 57%.
- This follows Trump’s announcement of the IRS rule on crypto in DeFi.
The Curve DAO price has flipped bullishly, breaking its downtrend to $0.61. This recent rally follows President Trump’s announcement about the IRS rule on crypto in DeFi. Its daily trading volume supports the breakout momentum, as it has rallied 57%, indicating intense market activity.
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President Trump recently signed legislation overturning the IRS’s DeFi broker rule. The bipartisan bill marks the first crypto-related law in U.S. history. It removes tax reporting obligations that are seen as incompatible with decentralized finance platforms. This has contributed to Curve Dao’s price surge in the past 24 hours. However, can CRV maintain the bullish outlook?
💥BREAKING:
PRESIDENT TRUMP SIGNS RESOLUTION OVERTURNING IRS CRYPTO RULE TARGETING DEFI.
THIS IS MASSIVE! pic.twitter.com/CQo6UXH8Qp
— Crypto Rover (@rovercrc) April 11, 2025
The Curve DAO price has broken out in a splendid show of bullish muscle, soaring 18% to $0.61. The bulls have taken the reigns, leaving the bears in total dust. Momentum indicators of Curve Dao altcoin show a positive outlook, suggesting further potential upside. Moreover, on-chain metrics paint a bullish picture as CRV’s open interest spikes.
Curve DAO Price Paints a Bullish Picture
Thursday saw Curve DAO’s price break above a descending trendline (connecting multiple highs from early December) and above the coin’s 200-day Simple Moving Average (SMA) at about $0.56. It gained 18% on Friday, trading at $0.61; that is where it is at the time of writing.
In case of an upward trend continuation, CRV could extend its rally by 17% to retest its daily resistance at $0.69. If it hits that level, a successful close could add a 20% gain to retest its high of $0.83 on January 31.
A closer look at the technical indicators supports a bullish picture. The Relative Strength Index (RSI) has hurtled above the 70-overbought region at 73.92, indicating intense buying pressure in the market. However, with the token overbought, traders should be cautious of a potential retracement. Overbought conditions could culminate in a Curve Dao price correction, allowing the bulls to sweep through enough liquidity.
On the other hand, the Moving Average Convergence Divergence (MACD) indicator also showed a bullish crossover on Thursday, giving a buy signal and suggesting a continuation of the upward trend.
On Chain Metrics Support CRV Bullish Outlook
The bullish outlook is also reinforced by CRV’s Open Interest (OI). Coinglass’s data shows that OI in CRV on futures chains at exchanges rose to $167.64 million from $102.04 million on Monday, the highest since February 2. New buying or new or additional money in the market shows as increasing OI and implies a rally in Curve DAO’s price.
However, the Curve Dao price could drop if early profit booking commences in the market. In such a case, the bears will chase the key support zone at $0.56, coinciding with the 200-day MA. A deeper correction will see the Curve Dao price drop deeper to $0.49, coinciding with the 50-day MA. A breach below this level will invalidate the bullish outlook, causing further downside to $0.47, $0.44, and $0.39.
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Emmaculate Araka
Emmaculate Araka is a cryptocurrency writer with published works on Crypto2Community and other news sources. She is believer in the transformative power of crypto and the blockchain industry, conducting on-chain analysis, breaking down market-triggering events, and helping traders and investors benefit from expert technical price analysis. Emmaculate finds gratification in diving deep into the crypto space, earning herself significant knowledge and experience. She holds a Bsc. in Information Science, and outside work, Emmaculate loves reading novels and watching documentaries.
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