A trader known for contrarian cryptocurrency calls believes two decentralized finance (DeFi) altcoins are poised for massive gains.
Household analyst Credible told his 398,100 followers on social media platform X that he is bullish on both Curve (CRV) and Convex Finance (CVX).
Curve Finance is a stablecoin-focused decentralized exchange and Convex supports Curve by optimizing the yield of locked tokens.
According to Credible, both altcoins are positioned to rebound after Curve founder Michael Egorov was liquidated on June 13.
“We are seeing lower term impulses in CRV and CVX.
Perhaps it is time for the great recovery to begin.
Now that (Michael Egorov) has been liquidated, that bulge is out of the picture. “Now I think the kings of DeFi can move freely.”
CRV and CVX have been rallying since Egorov’s liquidation last week. On June 17, CVX soared to $4.77, up more than 157% from last week’s low of $1.85. According to Credible, the CRV will succeed the CVX.
“The flight towards quality/usability is coming. C.R.V. “In my opinion, I will follow.”
CVX has been trending lower since its recent highs, but Credible says there is much more room for both altcoins to rise.
“CRV-$2
CVX – $15
Main resistance area.
At the above levels you are likely to profit from a leveraged buy.
“We’re holding on until we hit an all-time high.”
As of this writing, CVX is trading at $3.30 and CRV is trading at $0.314.
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