A widely respected cryptocurrency analyst and trader is providing insight into XRP and decentralized finance (DeFi) protocol Curve DAO (CRV) while remaining bullish on its top Ethereum (ETH) rival.
Starting with Ethereum competitor Solana (SOL), an analyst known by the pseudonym Credible Crypto informs his 423,200 followers on social media platform .
Credible Crypto said his optimism on Solana would be invalidated if SOL falls below $126 and his take-profit level is around $163.
“It’s a very simple play based on the assumption that we might see some relief across the board.
Tested local demand targeted almost identical peaks with high term supply…
… Clearly, this problem will come to a halt if Bitcoin fails to find some relief and instead continues to collapse.”
Solana is trading at $138 at the time of this writing.
Widely respected analysts say XRP, the seventh-largest cryptocurrency asset by market capitalization, has presented opportunities on recent daily time frames. According to a chart from Credible Crypto, an anonymous analyst appears to have suggested that XRP could rise above $0.69, an increase of about 33% from current levels.
“It’s worth noting that if we lose the lower timeframe blue zone (middle ~$0.50), we could probably get back to the lower range (below $0.40), so we need to manage risk here.”
XRP is trading at $0.517 at the time of this writing.
Next is the DeFi protocol Curve DAO. The widely respected analyst said he is bullish on CRV in the long term, but expects the altcoin to fall at least 8% from current levels.
“I’m only buying some here for a potential reassuring bounce. I still think Bitcoin will fall as low as I think it will go below $0.24.”
CRV is trading at $0.256 at the time of this writing.
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