KOL Credible calls for a boom for SOL and a small cap altcoin

A prominent analyst predicts a new bull run for the Solana smart contract platform, saying that a low cap altcoin is poised for a massive supply shock.

Known in the industry as Credible, the analyst told his 251,900 Twitter followers that he believes Solana (SOL) will trigger a major rally, the largest in weeks, after a breakout above the consolidation pattern.

“SOL is a leader in the market and looks like it has completed wave 4 as a triangle. This implies that SOL started on wave 5 and finished its first macro cycle. This is going to be epic and a taste of what we’ll see in the months to come. Expect $ 500 + ”.

The source: Credible / Twitter

The analyst relies on Elliott Wave Theory, a method of technical analysis that predicts future price movements by analyzing the sentiment of the crowd across each wave.

He is also closely monitoring Curve (CRV), the governance token of the stablecoin-focused decentralized exchange Curve Finance. According to Credible, he expects the CRV to climb to $ 6.50 in the near future once it breaks the critical resistance at $ 3.50.

“CRV is joining forces with CVX (Convex Finance). I can’t explain the mechanism in a tweet – but when CVX increases it increases the inherent value of the CRV and when the CRV increases it increases the inherent value of the CVX. ”

The source: Credible / Twitter

Convex Finance is a platform designed to add rewards to stake users or to provide CRV liquidity. At the time of writing, CRV is trading at $ 3.7 while CVX is trading at $ 19.61, according to CoinGecko.

Credible says he’s bullish on Curve as almost 90% of the supply is locked in for years to come.

“Oh, 89% of the CRVs in circulation are banned for about 3.7 years. So there will be a big supply shock and if it breaks out it will increase very quickly and strongly. Have the token before it all starts … Yes, the lock creates voting rights and is used to increase the yield of other protocols which will increase the demand for CRV. ”

The source: Credible / Twitter

You can see the coin prices here.

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Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

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