A widely followed cryptocurrency analyst and trader takes a bullish stance on Ethereum (ETH)’s top rival while offering insight on XRP and decentralized finance (DeFi) protocol Curve DAO (CRV). There is.
Starting with Ethereum competitor Solana (SOL), the analyst known by the pseudonym Credible Crypto told his 423,200 followers on social media platform It tells them that they are in a long position.
Credible Crypto says his bullish thesis on Solana will be invalidated if SOL falls below $126 while profit-taking levels are around $163.
“It’s a very simple play based on the assumption that there might be some relief across the board.
We tested local demand and targeted roughly the same highs as above for higher timeframe supply…
…Obviously, if we don’t see some relief in Bitcoin and we continue to fall instead, this will be called off. ”
Source: Credible Crypto/X
At the time of writing, Solana is trading at $138.
Turning to XRP, widely followed analysts say that the seventh-largest crypto asset by market capitalization has recently presented opportunities in the daily time frame. Based on Credible Crypto’s charts, the pseudonymous analyst appears to be suggesting that XRP could rise above $0.69, or about 33% from current levels.
“It’s worth noting that if we lose the lower timeframe blue zone (midrange ~ $0.50), we could probably go back to the lows of the range (below $0.40), so manage your risk here. to confirm.”
Source: Credible Crypto/X
At the time of writing, XRP is trading at $0.517.
Next up is the DeFi protocol Curve DAO. The widely followed analyst said that while he is bullish on CRV in the long term, he expects the altcoin to decline by at least 8% from current levels.
“Just buying some here for a potential bailout rebound. I still think it will be below $0.24, but if Bitcoin falls as much as I think it could probably go lower. .”
CRV is trading at $0.256 at the time of writing.
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