According to a widely-followed analyst, a decentralized finance token (DeFi), built within the Ethereum ecosystem (ETH), may be gearing for a major breakout.
Credible Crypto, a pseudonymous analyst on social media platform X tells 466,000 of his followers that the value of Curve DAO may rise by more than 240% if it is able to break through a major resistance zone.
For those who are looking to purchase a CRV dip, in lower time frames, we have reached a critical level of resistance for both USD and BTC pairs.
This level is easy to identify on the 4-hour chart. If the bottom hasn’t been reached, this is where this rally will most likely end. It’s clear sky to $2+ if we can clear this area. You want to watch for any rejection .” as we move into the resistance zone.
The trader said CRV needed to recover $0.67 from its USD pair to reach new highs locally, and its main resistance to overcome against Bitcoin (CRV/BTC), is 0.00000633 BTC. ($0.55).
These are the levels of interest mentioned above on a low-timeframe for CRV. We should be able to quickly reach new highs if we can reclaim the red zone. There are many local highs that have not been tapped above us, which is a strong pull to the upside.
It is not necessary to have a BTC bomb back to the low $80,000s. We only need to get rid of local resistance, and see some positive developments in BTC. This zone has been cleared and we are confident that the bottom of .” is now in place.
At the time of this writing, CRV was trading at $0.58. This is an increase of 10.2% over the past 24 hours.
He warns, finally, that the payments token XRP could be about to undergo a correction.
I am calling for a fall in XRP, and a rise in ETH and CRV. “Not everything has to move in the exact same direction all of the time.”
At the time of this writing, XRP was trading at $2.33. This is a 2% drop in 24 hours.
Please follow us at X@InvCryptoDaily
Subscribe for email alerts to avoid missing a beat
___________________
___________________
Images Can Be Found on Pixabay Creative Commons & Midjourney
The XRP Outlook post Trader says Ethereum-based Altcoin primed for 240%+ rally if major resistance level breaks, may change as new information becomes available.
