The cryptocurrency market is still in limbo as it struggles to pull back from the series of sell-offs in recent weeks. Unable to gain resistance at $ 50K, BTC is trading at $ 48,635 and ETH is also down 3.8% as it is trading at $ 4,228. Following his lead, most other altcoins are trading in the red today.
Several crypto assets on the watch list of a famous crypto analyst and trader have survived the recent market crash and are now ready to rise, according to him.
Credible Crypto, a pseudonymous trader, looks at the charts in a series of tweets to provide its 278,000 followers with an updated price projection for XRP, Bitcoin (BTC), Curve DAO Token (CRV), and Ethereum (ETH).
Ripple (XRP)
Credible uncovered the top bid and ask ranges for XRP last week, ranging from $ 0.84 to $ 1.10. The asset then plunged to just $ 0.60 on December 3 before rebounding, and the analyst now believes XRP price has reached its bottom.
He says that XRP's failure to get RED back reduced it to daily demand, resulting in a massive sell-off event across the market. In spite of the [liquidity] wick down, was able to maintain daily demand. Oscillating lows were swept at key points. Therefore, in his opinion, the bottom is inside.
Bitcoin (BTC)
Moving to Bitcoin, Credible predicts that the major cryptocurrency will defy pessimism and return to the $ 60,000 mark by July of next year.
As of this writing, Bitcoin is trading at 48,229 down from 4.2% in the last 24 hours.
DAO Curve Token (CRV)
The analyst then examines DAO curve Token, a decentralized exchange and an automated market making system (CRV). Credible believes CRV's naysayers are about to take a hard hit, based on the escalating pattern of the chart of higher highs and lows higher in recent months.
"Bears looking for lower prices are about to get hit with a curve ball."
At the time of writing, CRV is trading at $ 3.73 down from 7.4% in the last 24 hours.
V-shaped recovery for market leaders
He anticipates a big V-shaped bounce for both crypto assets, with ETH moving higher and higher, perhaps 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 going up with little dips along the way, but nothing serious.
He says that ETH should be considered a trailblazer. Breaking out and closing above $ 4,600 proves this pretty well. It will be a marvel, he added.
As of this writing, ETH is trading at $ 4,149 down 4.6% in the last 24 hours.
