JAKARTA - Crypto analysts closely followed, with the "Credible" pseudonym, stated that the altcoin Curve (CRV) in the decentralized financial network (DeFi) is likely to spike significantly.
In a tweet to his 336,900 followers on Twitter, Credible stated that Curve Finance's decentralized exchange governance tokens are currently in the midst of a third wave spike that could generate a profit of 1,092 percent.
"CRV with a good gust of our dollar 1 level. We are on our way," Credible said.
According to Elliott Wave's theory, a technical analytical approach trying to predict future price movements by following market participants' psychology, bullish assets have passed a five-wave upward trend with the third wave triggering the strongest spike.
Based on the graph shown by Credible, he predicts that a third wave rally could push CRV up to $13. He also stated that the CRV's relative force indicator, which tracks asset momentum, has never experienced overbought on weekly graphs, which suggests that "the biggest movement of coins is still coming."
Currently, CRV is trading at a price of 1.09 US dollars. Meanwhile, for Bitcoin (BTC), Credible believes that the cryptocurrency still has room to grow higher despite its strong performance this year.
"This doesn't look like the end of our rally. Local price action looks like consolidation before we continue to rise to 25,000 US dollars," he said, quoted by DailyHodl.
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