CRV surprised a lot of traders this week

After trending lower for months and breaking below the key $0.37 level, many expected a clean move toward the long-term support near $0.24. Instead, Curve DAO token found demand much earlier, dipping to $0.331 before snapping back to $0.385 a sharp 16% bounce in just over four days.

At first glance, that kind of move feels like a momentum shift. But zooming out tells a different story. The bigger trend hasn’t changed. On higher timeframes, volume remains weak, OBV is barely moving, and moving averages continue to slope downward. One strong green push doesn’t erase months of sustained selling pressure.

The bounce itself looks more technical than structural. Price filled a prior imbalance, tagged the $0.372 resistance zone, and briefly flipped it before sellers stepped back in. On lower timeframes, that move now looks increasingly like a liquidity sweep rather than the start of a trend reversal.

For bulls, the less likely scenario would require CRV to reclaim and hold above $0.40 with follow-through volume. Without that, downside risk remains very real. A return below $0.33 is still on the table, especially if broader market sentiment weakens.

In short: the bounce was impressive, but not convincing. Until the higher-timeframe trend breaks, CRV remains a sell-the-rallies market, not a confirmed reversal.