According to a top crypto analyst and trader known as Credible Crypto, a 10X rally for the native token of DeFi platform Curve (CRV) is “not only possible but probable.”
Curve (CRV)
Credible Crypto shared with his 267,000 Twitter followers that his target for Curve DAO token (CRV), the governance token of decentralized finance (DeFi) platform Curve, is $40, which would be almost 800% upside from its current price level.
According to the trader Curve has more total value locked (TVL) in its platform than any other DeFi protocol in the industry with big majority of the supply locked up for nearly 4 years.
“A 10x on CRV from here is not only possible but probable. It’s a conservative estimate for the leading DeFi protocol in the space with $20B in TVL, 90+% supply locked for nearly 4 years, and a technical breakout of a 9-month accumulation structure. $40+ CRV by end of cycle.”
Top 10 DeFi Platforms by TVL | Source: Defillama.com
At time of writing, CRV is trading at $4.45, according to Coinmarketcap.
Bitcoin (BTC)
Credible Crypto also looks into Bitcoin, which doesn’t look great in the short term. According to the analyst, the leading crypto asset could be looking at more down trend unless it can retake the $59K level.
“Low time frames not looking so hot anymore with that recent sell-off. Need to reclaim 59k for now if we want to continue up to 62-63k. Bears are in charge until then.”
Low time frames not looking so hot anymore with that recent sell-off. Need to reclaim 59k for now if we want to continue up to 62-63k. Bears are in charge until then. pic.twitter.com/VPv3RYQP92
The outlook for Ethereum looks very similar to Bitcoin. According to Credible Crypto ETH could recover from its recent correction, if it first shoots through $4,385, and then takes over the $4,770 level.
“Rejection so far. We can still recover from this and if we do still need to err on the side of caution in the zone above, but if we don’t I am glad I locked in some gains and now have cash reserves to buy the dip.”
Rejection so far. We can still recover from this and if we do still need to err on the side of caution in the zone above, but if we don't I am glad I locked in some gains and now have cash reserves to buy the dip. $ETHhttps://t.co/Buj7v47Hsspic.twitter.com/z7gXnlGAFF
