A popular cryptocurrency analyst and trader, known as Credible Crypto, is optimistic about Ethereum (ETH).
Credible Crypto, with a following of 399,000 on X, believes that Ethereum’s chances of dropping below $1,600 are slim. He states that the key support levels for the second-largest cryptocurrency are between $2,800 and $3,430.
The recent decision by the U.S. Securities and Exchange Commission (SEC) to halt an investigation into Ethereum’s status as a security is seen as a positive development by Credible Crypto. He suggests that this move could push ETH to reach a new all-time high, stating, “The SEC backing off ETH is likely the final blow for bears.”
Ethereum is currently priced at $3,530.
Moving on to Curve DAO (CRV), the analyst compares the opportunity presented by the native token of the decentralized finance (DeFi) platform to that of venture capitalists and major investors who intervened last year to prevent a significant sell-off after an exploit. He mentions, “Now you have the chance to invest in the backbone of DeFi at a lower price than those who made over-the-counter deals at $0.40 a year ago.”
CRV is currently trading at $0.333.
Credible Crypto also discusses Convex Finance (CVX), highlighting the tight liquidity of the utility token of the DeFi platform. He notes that a majority of CVX tokens are either locked or staked, and the circulating supply is nearing its maximum limit. The analyst predicts, “When things start to heat up, the supply shortage will propel this token upwards.”
CVX is currently priced at $3.89.
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