CRV price trades near $0.24 as LlamaLend exploit concerns weigh on short-term sentiment.
Curve DAO (CRV) token is trading at $0.24 at press time, down 3.5% over the past 24 hours. The pullback comes during a recovery attempt, with price still near the upper half of its seven-day range between $0.21 and $0.26.
CRV is up about 5% on the week but remains down 20% over the past month.
Derivatives activity has softened. Volume is down 12% to $127 million, while open interest has slipped 1.73% to $67.8 million, according to CoinGlass data.
As uncertainty persists, the drop in open interest shows that some leveraged positions are being closed rather than opened, indicating caution among traders.
Curve Finance’s March 2 statement confirming that it is looking into an attack on the sDOLA LlamaLend markets has dampened sentiment. The issue stemmed from how the pool’s price oracle was configured, which introduced the risk of manipulation.
Blockchain security firm BlockSec had clarified that the vulnerability affected only the sDOLA-crvUSD LlamaLend pool and not Inverse Finance itself. The exploit resulted in an estimated $240,000 profit for the attacker.
Borrowers who used sDOLA as collateral were liquidated, while lenders were unaffected. sDOLA holders even saw gains due to the price distortion.
The attack relied on a flash loan. Funds were borrowed, sDOLA was redeemed and re-staked as a donation, and the pool’s pricing mechanism was temporarily distorted.
That shift pushed several positions below liquidation thresholds, allowing the attacker to liquidate them at a profit.
Curve emphasized that the core protocol contracts were not compromised. Even so, the incident has revived concerns about oracle design and integration risks within DeFi lending markets.
CRV continues to trade in a bearish structure. The daily chart shows a sequence of lower highs and lower lows. Price sits below the descending 50-day moving average, reinforcing the short- to mid-term downward bias.
Attempts to reclaim the 0.25-0.26 zone have failed so far, leaving overhead supply in place. Bollinger Bands expanded to the downside after a period of contraction, confirming that the latest volatility break favored sellers.
Price is now hugging the lower band, a sign that sell pressure has not fully eased. A close back above the mid-band would be the first sign of stabilization, but that has yet to occur.
The momentum is still skewed toward bears because the relative strength index is less than 50. It recently recovered from around the 30 level, but there hasn’t been any major bullish divergence.
Immediate support sits near 0.22, which marks the lower boundary of the current range and a liquidity cluster. A daily close below that level could open the path toward the psychological 0.20 mark.
On the upside, 0.25 acts as near-term resistance. A sustained move above 0.30 would be required to break the pattern of lower highs and shift the broader structure.
