DeFi
Analyst Predicts Massive Rallies for Two DeFi Altcoins, Says It’s Time for a Big Rally – Here Are His Targets
A trader known for making contrarian crypto calls believes two decentralized finance (DeFi) altcoins are poised for massive gains.
Pseudonymous analyst Credible tells his 398,100 followers on social media platformCRV) and Convex Finance (CLC).
Curve Finance is a decentralized exchange focused on stablecoins and Convex supports Curve by optimizing yields from locked tokens.
According to Credible, the two altcoins are able to rally after Curve founder Michael Egorov obtained liquid on June 13.
“I see weak timing pulses on CRV and CVX.
It is probably time for the start of the great recovery.
Now that [Michael Egorov] has been liquidated, this surplus is irrelevant. I think the kings of DeFi can now move freely.
CRV and CVX have rallied since Egorov’s liquidation last week. On June 17, CVX surged to $4.77, up more than 157% from last week’s low of $1.85. According to Credible, CRV follow in the footsteps of CLC.
“A flight to quality/utility is coming. CRV will follow in my opinion.
While CVX has retraced from its recent highs, Credible said that both altcoins have much more room to run higher.
“CRV – $2
CVX – $15
Main areas of resistance.
It is likely to take profits on leveraged long positions at the levels above.
We are holding our own to new all-time highs.
At the time of writing, CVX is trading at $3.30 while CRV is worth $0.314.
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