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Analyst points to 150% upside potential for this DeFi token
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A widely followed cryptocurrency analyst known as Credible Crypto shared with his 434,600 followers on Platform X his expectation of a major bullish move for Curve Finance (CRV), a decentralized finance (DeFi) token.
According to the analyst, the CRV/Bitcoin (CRV/BTC) pair is showing signs of bullish divergence on the two-week chart. This type of divergence occurs when asset prices reach lower lows. Meanwhile, indicators such as the Relative Strength Index (RSI) are recording higher lows, suggesting a possible trend reversal.
“I have been scalping the CRV token and sharing these trades live for the last few months while waiting for this movement in the CRV/BTC pair, and it finally happened. With Bitcoin likely hovering in a range between $70,000 and $90,000 for a few weeks, I believe it is time for the big move I was anticipating. I bet on CRV here, a rebound to the highs of the range in the CRV/BTC pair (which is printing bullish divergence in a high time frame) represents a 150% increase, coinciding with our second target of $0.58+” , declared the analyst.
At the time of analysis, the CRV/BTC pair was trading at 0.00000336 BTC, or approximately $0.2954, down 1.75% in the last 24 hours.
DeFi Token and Ethereum Could Skyrocket
In addition to the Curve Finance token, Credible Crypto also shared bullish projections for Ethereum (ETH). The analyst believes that the asset may first test the $2,800 range before rising to levels close to $4,000.
“I am looking for an entry opportunity into Ethereum just below $2,800, with the aim of reaching the highs of $4,000+. The ETH/BTC pair returned to my area of interest on a high time frame. So, I believe Ethereum will likely outperform Bitcoin for a short period while BTC fluctuates in a range,” he said.
At the time of analysis, Ethereum was trading at $3,045, down 2.2% in the last 24 hours. For Ethereum to reach the aforementioned zone, the analyst predicts a decline of approximately 10% in the price of Bitcoin. This would open up space for stronger movement in ETH.
Analyst points to 150% upside potential for this DeFi token
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Analyst points to 150% upside potential for this DeFi token
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Analyst points to 150% upside potential for this DeFi token
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Analyst points to 150% upside potential for this DeFi token
