Crypto Market Bottoming out! Here are the Next levels for BTC, ETH, XRO & CRV
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The crypto market is still in limbo as it struggles to make a pullback from the series of sell-offs in the last couple of weeks. Unable to gain resistance at $50K, BTC is trading at $48,635 and ETH too is down 3.8% as it trades at $4,228. Following suit, most other altcoins trade in red today.
Several crypto assets on a famous crypto analyst and trader’s watch list have survived the recent market-wide dip and are now ready to surge, according to him.
Credible Crypto, a pseudonymous trader, looks at the charts in a series of tweets to provide his 278,000 followers with an updated price projection for XRP, Bitcoin (BTC), Curve DAO Token (CRV), and Ethereum (ETH).
Ripple(XRP)
Credible discovered major supply and demand ranges for XRP last week, ranging from $0.84 to $1.10. The asset then plummeted to as low as $0.60 on December 3rd before rallying, and the analyst now believes XRP price has reached its bottom.
He says XRP’s failure to recapture RED pushed it down to daily demand, resulting in a massive liquidation event throughout the whole market. Despite the [liquidity] wick to the downside, it was able to maintain daily demand. Swing lows were swept at key points. Hence, in his opinion, the bottom is in.
Bitcoin(BTC)
Moving on to Bitcoin, Credible predicts that the top cryptocurrency will defy pessimism and recapture the $60,000 mark by July of next year.
At the time of writing, Bitcoin is trading at 48,229 down by 4.2% in the last 24 hours.
Curve DAO Token (CRV)
The analyst then examines Curve DAO Token, a decentralized exchange and automated market maker system (CRV). Credible believes that CRV naysayers are in for a harsh shock, based on the chart’s climbing pattern of higher highs and higher lows in recent months.
“Bears looking for lower prices about to get hit with a curveball.”
At the time of writing, CRV is trading at $3.73 down by 7.4% in the last 24 hours.
V Shape recovery for market leaders
He anticipates a big V-shaped rebound for both crypto assets, with ETH pushing its way higher and higher – maybe to $10,000 or more per token.
He says he is getting a ‘V reversal’ vibe and this means the bottom is at $3,600, and the token will be grinding higher with minor dips along the way but nothing serious.
He says ETH should be considered as a trailblazer. Breaking and closing above $4,600 pretty well proves it. It’ll be a blast, he added.
At the time of writing, ETH is trading at $4149 down by 4.6% in the last 24 hours.
