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A closely followed crypto analyst believes the decentralized finance (DeFi) altcoin curve (CRV) looks set to rise significantly.
Credible, a pseudonymous analyst, told his 336,900 Twitter followers that decentralized exchange Curve Finance’s governance token is now in the midst of its third wave surge, with altcoins likely to rise by as much as 1,092%. He says he has sex.
CRV has moved above the $1 level. We are on our way.
Credible practices the Elliott Wave Theory. It is a technical analysis approach that attempts to predict future price action according to the psychology of market participants, which tends to appear in waves. According to theory, a bullish asset goes through his 5-wave uptrend, with 3 waves causing the strongest uptrend.
Looking at the Credible chart, he predicts that a third wave rally could push the CRV to $13. He also said the CRV relative strength indicator, which tracks the asset’s momentum, has never been overbought on the weekly chart, noting that the coin’s “biggest move is yet to come.” suggests.
As of this writing, CRV is trading at $1.09.
As for Bitcoin (BTC), despite its strong performance this year, Credible believes the cryptocurrency king still has room for upward growth.
“It looks like the rally isn’t over yet. Local price action looks like a consolidation before continuing the rally to $25,000.”
At the time of writing, Bitcoin is trading at $23,105.
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