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Popular cryptocurrency analyst and trader Michaël van de Poppe believes a decentralized finance (DeFi) altcoin built on Ethereum (ETH) is ready for a breakthrough in early 2022.
Eight Global, Van de Poppe’s crypto education platform, notes in a new tweet that the Curve DAO (CRV) token is currently printing a bullish market structure.
“CRV has a nice chart and is currently one of the prettier coins. USDT is hitting highs and lows, and it looks like it will make another attempt to break through the 1.618 fib level.
Source: Eight Global / Twitter
CRV is the governance token of Curve Finance, a decentralized stable coin exchange that aims to ensure minimal slippage by attracting significant liquidity. The crypto asset ranked 74th by market cap is trading at $ 5.43 at the time of writing and has risen 2.6% in the past 24 hours.
Van de Poppe’s target of $ 8.35 for the CRV suggests the coin has upside potential of over 53% from its current price.
The crypto analyst also says in a new YouTube video that he is still bullish on crypto overall.
“I still assume we’re in a lengthening cycle that’s going to cause the markets to run longer over the next year or so. As you know, I am quite optimistic about the markets.
The crypto analyst, however, says Bitcoin (BTC) needs to clear $ 49,400 for it to be bullish again in the short term on the main crypto asset.
BTC is trading at $ 46,512.87 at the time of writing and is down 2.43% in the past 24 hours.
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