A prominent analyst and trader in the cryptocurrency space is showcasing optimism towards a lesser-known altcoin based on Ethereum while also sharing insights on Bitcoin (BTC) and Curve DAO (CRV).

Identified by the pseudonym Credible Crypto, the analyst is addressing his audience on the social media platform X, consisting of 401,200 followers. He believes that Convex Finance (CVX) has the most promising chart in terms of risk/reward ratio for the short to medium term, provided the support level remains firm between $2.60 and $2.70.

Convex Finance functions as a decentralized finance (DeFi) platform operating on the Ethereum blockchain. Credible Crypto emphasizes the potential explosive movement in CVX’s price if it maintains above the $2.60 to $2.70 level.

Currently, CVX is trading at $3.06. Drawing parallels, the analyst suggests that CVX’s market structure resembles the historical price patterns seen in Dogecoin (DOGE) before substantial price surges.

Moving on to Bitcoin, in a detailed post with an accompanying chart indicating a possible uptrend, the analyst indicates that BTC may be poised for a bullish trajectory in the upcoming weeks and months. Credible Crypto’s analysis hints at a potential surge in Bitcoin’s price to approximately $163,000.

As of the current market scenario, Bitcoin is exchanging hands at $60,773. Shifting focus to Curve DAO, a DeFi platform specializing in stablecoin trading, Credible Crypto observes that CRV has descended to a crucial support zone against its BTC pair, a move that could signal positive prospects for the Curve/US dollar pair.

Anticipating a rebound, the analyst asserts, “Chances are high for CRV/USD to rebound soon. If Bitcoin remains stable, CRV is expected to outperform in the short run.”

Presently, CRV is valued at $0.278. To stay updated, subscribe for email notifications and follow on social media platforms. It is essential for investors to conduct thorough research before engaging in high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Both transfers and trades carry inherent risks, and individuals should be cautious with their financial decisions. The Daily Hodl does not endorse specific trading activities and operates independently from investment advisory services.