Altcoin
Popular Analyst Identifies 3 Altcoins: They Will Go Rockets!
THE cryptocurrency the market is experiencing a summer break. While AI-focused coins posted strong gains thanks to NVIDIA’s gains, market leaders were more subdued. However, analysts say some tokens are ready to take off. A cryptocurrency analyst and trader with a large following is bullish on leading altcoin Ethereum. The analyst also sees opportunities in two DeFi altcoins.
The final nail in the coffin for Ethereum is: ATH is coming!
As you have been following on Kriptokoin.com, uncertainty and the summer effect have led to a pause in the market. However, analysts say that this stagnation will be broken in one direction or the other. However, there is still confidence that some cryptocurrencies will perform well. The popular analyst, nicknamed Credible Crypto, claims that the leading altcoin Ethereum it will hardly fall below $1,600. Also note that ETH’s support level is between $2,800 and $3,430.
According to Credible Crypto, the US SEC’s decision to end an investigation into whether Ethereum is a stock serves as a bullish catalyst that could send ET to a new all-time high. In this context, the analyst says, “the SEC’s withdrawal of its investigation into ETH securities will likely be the final nail in the coffin for bears here.”
Source: Credible Cryptocurrency
Meanwhile, at the time of writing, Ethereum was trading at $3,590, up 1.45% on a daily basis. The leading altcoin rose by 2.5% on the weekly chart.
Two DeFi altcoins are on analyst’s radar: They could turn into rockets!
Credible Crypto is eyeing Curve DAO (CRV), a DeFi altcoin after Ethereum. The analyst says CRV offers a similar opportunity to venture capitalists and other large investors who stepped in last year to avoid a deeper sell-off following an exploit. Accordingly, Credible Crypto makes the following statement:
Now you have the opportunity to get into the backbone of DeFi at a lower price than the big boys doing over-the-counter business at $0.40 a year ago.
Another DeFi altcoin on analysts’ radar is Convex Finance (CVX). Credible Crypto states that CVX is currently experiencing low liquidity. According to the analyst, most CVX tokens are blocked or staked. Furthermore, the supply of circulating tokens is about to reach its maximum supply. At this point the analyst predicts an explosion. Along these lines, Credible Crypto says for CVX: “When things start to heat up, supply shortages will cause this thing to explode.”
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