Trader Forecasts Imminent Surge for EthereumBased Altcoin Revises Bitcoin and Curve Projections
A cryptocurrency expert and trader, known as Credible Crypto, is sharing positive views on an altcoin based on the Ethereum blockchain, while also offering insights on Bitcoin and Curve DAO.
Credible Crypto, who has a large following of 401,200 users on X, believes that Convex Finance (CVX) has the most promising chart in terms of risk/reward ratio in the short to medium term. As long as the support level between $2.60 and $2.70 remains intact, Credible Crypto anticipates a potential explosive growth for CVX. Currently, CVX is trading at $3.06.
The market structure of CVX is similar to the past price action of Dogecoin (DOGE) before major breakouts, according to Credible Crypto.
Moving on to Bitcoin, Credible Crypto believes that BTC has a chance to embark on a bullish trajectory in the coming weeks and months. Based on the attached chart, Credible Crypto suggests that Bitcoin could potentially reach $163,000. At present, Bitcoin is trading at $60,773.
As for Curve DAO, a decentralized finance protocol focused on stablecoin trading, Credible Crypto highlights that CRV has fallen to a crucial area of demand on its BTC pair. This development could have bullish implications for the Curve/US dollar pair. Credible Crypto expects CRV/USD to bounce back soon, provided that BTC remains stable. Currently, CRV is valued at $0.278.
Please note that all opinions expressed in this article are not investment advice, and investors should conduct their own research before making any high-risk investments in cryptocurrency or digital assets. The Daily Hodl, where this information was sourced, does not endorse the buying or selling of any cryptocurrencies or digital assets, and it is not a financial advisor.