CRV Price Skyrockets 79% in a Week, Will Curve DAO Surge to its 7-Month High?

Curve DAO (CRV) has experienced a significant price increase, surging 79.32% in the past week and 28.39% in the last 24 hours, reaching an intraday high of $0.993. Trading volume has also increased substantially by 72.78% to $727.58 million. The rise is attributed to growing scarcity of CRV on exchanges, indicated by negative netflows of -2.67 million on July 16 and a record-high Stock-to-Flow ratio. Technically, CRV has broken out of a descending triangle pattern, with the price moving from $0.773 to $0.9872. The Relative Strength Index (RSI) indicates that CRV is currently in overbought territory. Potential resistance levels are identified at $1.10 and $1.30. A stop-loss at $0.89 is suggested for risk management.