A crypto trader known for his unconventional predictions believes that two decentralized finance (DeFi) altcoins are set to experience significant gains.
Using the pseudonym Credible, the analyst shared his bullish outlook with his 398,100 followers on the social media platform X, highlighting Curve (CRV) and Convex Finance (CVX).
Curve Finance specializes in stablecoin-focused decentralized exchanges, while Convex Finance enhances yields of locked tokens on the Curve platform.
Credible pointed out that both altcoins are poised for a rally following the liquidation of Curve founder Michael Egorov on June 13th.
“I see positive signals for both CRV and CVX in the short term. It could be the beginning of a significant recovery. With [Michael Egorov] out of the picture, I believe the DeFi leaders can now move forward freely.”
Since Egorov’s liquidation, both CRV and CVX have been on the rise. On June 17th, CVX reached $4.77, marking a remarkable 157% increase from its recent low of $1.85. Credible predicts that CRV will soon follow suit.
“We can expect a shift towards quality and utility. I believe CRV will soon join the upward trend.”
Despite a slight pullback from recent highs, Credible remains optimistic about the potential for both altcoins to continue rising.
“CRV – $2
CVX – $15
These are key resistance levels. I may take profits on leveraged positions at these levels. We will hold onto spot positions until new all-time highs are reached.”
As of the current writing, CVX is trading at $3.30, while CRV is valued at $0.314.
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