Analyst Predicts Meteoric Rally For DeFi Altcoin And CRV Move
One of the most well-known crypto analysts thinks that the decentralized finance (DeFi) altcoin Curve (CRV) is about to make a huge jump.
Pseudonymous analyst Credible tells his 336,900 Twitter followers that the governance token of decentralized exchange Curve Finance is now in the middle of a wave three surge that could bring the altcoin as much as 1,092% in gains.
“CRV with a nice break of our $1 level. We are on our way.”
Credible employs Elliott Wave theory, sort of technical Analysis that predicts price movements by studying market players’ emotions in waves. The theory says that a bullish asset has a five-wave uptrend, with wave three being the strongest.
By looking at Credible’s chart, he thinks the wave three rallies could push CRV as high as $13. On the weekly chart, CRV’s relative strength indicator, which measures momentum, has never been overbought. It is suggesting that the coin’s “biggest changes are still to come.”
At the time of writing, $1.09 is being paid for CRV.
Even though Bitcoin (BTC), the king cryptocurrency, has performed well this year, Credible believes it still has room to grow.
“This doesn’t look like the end of our rally just yet. Local price action looks like consolidation before we continue our pump to $25,000.”
At the time of writing, one Bitcoin is worth $23,105.
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