This Ethereum (ETH)-Based Altcoin May Very Well Be Gearing Up for a Double-Digit Bounce, Says Analyst

The analyst pseudonymously known as Credible Crypto tells his 403900 followers on the social media platform X that CRV

A widely followed cryptocurrency analyst and trader is predicting that one Ethereum (ETH)-based altcoin could be preparing for a double-digit rally.

The analyst, who is known pseudonymously as Credible Crypto, tells his 403,900 followers on the social media platform X that CRV, the native token of stablecoin lending platform CurveDAO, could surge to $0.37, which is more than a 24% increase from the current price.

The analyst says that several metrics are hinting at an impending CRV breakout, including the token holding a key level around $0.26 as support.

“Holding the same level covered in my last tweet on CRV and once again seeing some notable absorption. Both USD and BTC pairings of CRV have now printed confirmed bullish divergence on the D3 (day three). We even have a clear range here on CRV and have already taken the lows. Put the three things above together and it makes sense to me that we go for the range highs now at $0.37 as long as BTC keeps chopping about on this low timeframe range it’s currently sandwiched in.”

CRV is trading for $0.2981 at time of writing, up 7.4% in the last 24 hours.

Next up, the analyst warns of the correlation between Bitcoin (BTC) and meme coins such as dogwifhat (WIF). He anticipates that if Bitcoin were to drop by 15%, WIF could nosedive to as low as $1.39, marking a 45% decrease from the current price.

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“Alts and especially memes are just higher beta versions of BTC. Which means, on BTC bounces they’ll be likely to bounce harder/stronger and on BTC falls they’ll be likely to fall harder. The bounce here on WIF is nice, but we have just moved back to our range highs, making a lower high on higher timeframes and taking some liquidity on the way in, and we’ve left a triple bottom right below us. If BTC makes a 15% move down to our lows, many alts will fall a lot harder. WIF for instance is likely to follow with a 40% move back down of its own to take out those triple lows.”

WIF is trading for $2.54 at time of writing, up more than 4% in the last 24 hours. Meanwhile, Bitcoin is trading for $66,719 at time of writing, up 4.3% in the last 24 hours.

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