Curve DAO (CRV) experienced a significant surge in the last 24 hours following President Trump’s new legislative order that protects DeFi assets. Spot market investors have been increasing their exposure to the asset, driving up buying sentiment. However, there may be a potential drop before a sustained upward rally. The new law signed by President Trump aims to protect DeFi by preventing the IRS Digital Assets Sale and Exchanges Rule from being enforced. This has had a positive impact on DeFi tokens, with CRV leading the charge with a 19% surge.
Traders in the spot market have been accumulating CRV, with approximately 1.15 million CRV worth $667,000 being moved into private wallets for holding. The In/Out of the Money Around Price (IOMAP) indicator shows minimal resistance ahead, suggesting more room for growth. The current resistance level is at $1.83, with approximately 899.95 million CRV sell orders potentially existing at that level. If buying pressure continues to increase, CRV could continue its climb towards this resistance zone.
Despite the positive momentum, CRV could face a price cooldown before a sustained market rally. The asset is currently trading at a key resistance level of $0.61, which has previously pushed the price lower. However, the drop is expected to be minor, with support levels at $0.549, $0.509, or $0.478 depending on market momentum. In the derivatives market, selling pressure is building up, indicated by the OI-weighted funding rate flipping negative, signaling an increase in short activity.
The recent rally in CRV reflects renewed confidence among investors, driven by regulatory clarity from the White House. While a brief dip may occur in the near future, accumulation and minimal resistance suggest that bulls still have room to run. Overall, the positive sentiment surrounding DeFi assets, including CRV, following President Trump’s new legislative order has contributed to the recent surge in the market and increased exposure from spot market investors. This opens up the possibility for further growth and a sustained upward rally in the future.
