CRV Whale's $5.97M Loss Triggers Price Volatility

A significant sale of Curve DAO Token (CRV) by a whale investor has led to a substantial loss of $5.97 million. The entity, which held 37.26 million CRV tokens since 2023, sold them at $0.35, resulting in a loss from the average entry price of $0.51. This loss adds to the $3.64 million incurred from selling 4.01 million PENDLE tokens on OKX. The combined loss totals $9.61 million.

The sale of CRV tokens occurred 10 days ago, and their price has since remained pinned at the 50-day exponential moving average (EMA50) support of $0.37. The relative strength index (RSI) reading of 49.42 indicates a neutral stance, leaving room for the price to continue lower. However, the MACD death cross at 0.01 already signals fading momentum.

The price action on the four-hour chart shows that CRV is currently pressing against the upper Bollinger Band resistance near $0.40. Any break below the 50-EMA would likely accelerate the price toward the $0.34 zone before fresh accumulation appears.