Key Points:
- A top analyst informs that Curve (CRV) Finance is currently in the midst of a wave three rally that may see the cryptocurrency gain up to 1,092%.
- CRV may increase to as high as $13. CRV’s relative strength indicator, which gauges an asset’s momentum, has never been overbought, implying that the coin’s biggest changes are still to come.
A well-known crypto expert predicts that the decentralized finance (DeFi) altcoin Curve DAO (CRV) is about to explode to the upside.
Credible, a pseudonymous analyst, informs that the decentralized exchange Curve Finance governance token is currently in the midst of a wave three rally that may see the cryptocurrency gain up to 1,092%.
Credible employs Elliott Wave theory, a technical analysis method that aims to forecast future price movement by observing market players’ emotions, which tend to express in waves. A bullish asset, according to the idea, goes through a five-wave uptrend, with wave three igniting the biggest advance.
According to Credible’s chart, a wave rally may take CRV to as high as $13. He further claims that on the weekly chart, CRV’s relative strength indicator, which gauges an asset’s momentum, has never been overbought, implying that the coin’s biggest changes are still to come.
At the time of writing, CRV is trading for $0.995, which is down nearly 7% over the past 24 hours.
As for Bitcoin, despite its impressive performance this year, Credible feels that Bitcoin (BTC) still has an opportunity to go to the upside.
This doesn’t look like the end of our rally just yet. Local price action looks like consolidation before we continue our pump to $25,000.
He tweeted
Three weeks ago, Coincu reported that Convex Finance will allow additional incentives for cvxCRV staking, and users can choose reward currencies (for example, only accept CRV and CVX or only accept 3CRV), pledging that cvxCRV conforms to the ERC-20 standard.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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