Cryptocurrency analyst with the nickname Credible Crypto considers a significant rally of one altcoin based on Ethereum
In his opinion, DeFi platform Curve's governance token CRV is destined to hit the milestone $40, What's on 800% above current levels. He noted, that the Curve indicators for the volume of blocked assets (TVL) above, than any other DeFi protocol, moreover, the overwhelming part of the proposal is blocked for long periods of time:
“Almost 10-fold growth of the CRV rate from the current levels is very likely. And, this is a fairly conservative estimate for the industry-leading DeFi protocol with a TVL of about $20 billion. More 90% offers are blocked for almost 4 of the year, and also there was a technical breakthrough in the 9-month accumulation structure. By the end of the cycle I expect a CRV rate above $ 40 ".
CRV is currently trading slightly higher $4.
With regard to BTC, the analyst thinks, that in the short term the asset may face stronger downward pressure, if it does not return to the level $59 000:
“Due to the recent selloff, the outlook for bitcoin does not look so attractive. Need to return the level $59 000, if we want to see growth up to $63 000. Until that time, everything is in the hands of the bears ".
Ethereum is in a similar situation and the asset may recover from the recent correction, first taking the level $4385, and then back to the mark $4770.
