A popular cryptocurrency trader among the crypto community believes that a decentralized finance (DeFi) altcoin built on Ethereum (ETH) is on the verge of a significant recovery.
Crypto analyst Credible, nicknamed Credible, has 320,600 Twitter followers after a long correction period based on Ethereum. Curve Finance (CRV) He says he “lubricates his engines.”
Credible thinks that if Bitcoin (BTC) returns to $40,000, the DeFi altcoin, which was trading at $2.89 at the time of writing, could revisit the range found at the “mid-$2” range. Despite this, however, the analyst also predicts that the CRV will return to the $4-$5 range “soon”. The crypto asset had not reached these heights since mid-January.
Bitcoin may visit $40,000
Credible predicts that BTC will retest the $40,000 lows in the short term, but believes that the top-ranked crypto asset by market cap will continue to walk upwards after this drop.
Bitcoin is trading at $46,727 at the time of writing.
Credible is also the DeFi altcoin. Convex Finance (CVX) It also predicts a pullback.
Convex, Curve Finance It is a platform that rewards liquidity providers and CRV stakeholders on the exchange without charging withdrawals or minimum performance fees. CVX can be invested in Convex Finance to earn some of Curve’s liquidity pool earnings.
“Faced $40 resistance; We can see a slight pullback here before continuing. The dips towards the $20-30 region represent buying opportunities. Bribes/incentives for this round are also expected to be around $0.80 per vlCVX. Almost twice as much as the previous round, which was just two weeks ago.
“CVX – a gift that keeps on delivering.”
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.