A prominent cryptocurrency analyst has expressed optimism about a leading Ethereum (ETH) rival, while also providing insights into XRP and the decentralized finance protocol Curve DAO (CRV). This expert, known under the pseudonym Credible Crypto, is now bullish on Solana (SOL), one of Ethereum’s significant competitors. By sharing updates on his social media platform with over 423,000 followers, he discusses his strategy involving this fifth-largest crypto asset in terms of market capitalization.
Optimism Grows for Ethereum Rival Solana
According to Credible Crypto, Solana’s value, which was trading at $138 at the time of writing, has viable potential for upward movement. His bullish outlook on Solana is backed by a clear plan: his confidence remains intact as long as SOL does not dip below $126. Furthermore, he anticipates reaching a profit target of approximately $163.
“It’s a straightforward approach, given we may see market recovery,” he explains. “However, if Bitcoin continues a downward trend, this strategy might need reevaluation.”
XRP’s Potential Upside
Shifting focus to XRP, the analyst sees promising opportunities on its daily chart. Currently sitting at $0.517, XRP may potentially rise above $0.69, presenting a roughly 33% increase from its current position. He advises caution, stating, “If XRP loses its mid-range support (~$0.50), it could fall to previous lows below $0.40, so managing risk is crucial.”
Analyzing Curve DAO (CRV)
Future Moves
Examining the CRV token, Credible Crypto remains optimistic in the long run, despite predicting a short-term decline of at least eight percent. With CRV trading at $0.256, he suggests, “Purchasing during potential bounce opportunities might be strategic. However, the price could drop even further if Bitcoin’s downward trend continues.”
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Disclaimer: The opinions shared on The Daily Hodl are not financial advice. It’s recommended for investors to conduct their due diligence before engaging in high-risk investments involving Bitcoin, cryptocurrencies, or digital assets. Be aware that trades are carried out at your own risk, and any incurred losses are solely your responsibility. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or any digital assets and is not a financial advisor. Note that The Daily Hodl participates in affiliate marketing.
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