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Closely followed crypto analysts believe the decentralized finance (DeFi) altcoin Curve (CRV) appears poised for a major upward boom.
Undercover analyst Credible told its 336,900 Twitter followers that decentralized governance token exchange Curve Finance is now in the midst of a triple wave that could see the altcoin score as much as 1,092% gains.
“CRV with a nice break from our $1 level. We’re on our way.”
The credible practice of Elliott Wave theory, an approach to technical analysis that attempts to predict future price action by following the psychology of market participants, tends to manifest in waves. In theory, the bullish asset went through a five-wave uptrend with wave three triggering the strongest spike.
Looking at Credible’s charts, he predicts that a wave three rally could push CRV as high as $13. He also said that the relative strength indicator CRV, which tracks an asset’s momentum, was never overbought on the weekly chart, indicating that the coin’s “biggest move is yet to come.”
At the time of writing, the CRV changed hands for $1.09
As for Bitcoin (BTC), Credible believes that the crypto king still has more room to grow upwards despite his strong performance this year.
“This doesn’t look like the end of our rally just yet. Local price action looks to be consolidating before we continue our pump to $25,000.”
At the time of writing, Bitcoin is trading for $23,105.
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Disclaimer: Opinions expressed in The Daily Hodl are not investment advice. Investors should exercise due diligence before making high-risk investments in Bitcoins, cryptocurrencies or digital assets. Please note that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrency or digital asset, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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