Crypto Analyst Says Bottom Is In for Two Altcoins, Predicts V-Shaped Recovery for Bitcoin and Ethereum

A popular crypto analyst and trader says several crypto assets on his watch list have survived the recent market-wide pullback and are now primed to jump.

In a series of tweets, the pseudonymous trader Credible Crypto looks at the charts to give his 278,000 followers an updated price forecast for XRP, Bitcoin (BTC), Curve DAO Token (CRV), and Ethereum (ETH).

Last week, Credible identified key supply and demand ranges for XRP between $0.84 and $1.10. The asset then tumbled to as low as $0.60 on December 3rd before battling back, and now the analyst believes the bottom is in for XRP.

“XRP Update: As per my last update – a failure to reclaim RED sent us down to daily demand in what ended up being a major liquidation event across the entire market.

We ended up holding daily demand despite the [liquidity] wick to the downside. Key swing lows were swept. Bottom is in, [in my opinion].”

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Source: Credible Crypto/Twitter

Currently XRP is up 4.34% today to $0.86.

Moving on to Bitcoin, Credible expects the top crypto to defy pessimistic expectations and reclaim the $60,000 level by July of next year.

“Bullish. BTC.”

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Source: Credible Crypto/Twitter

Bitcoin is holding the line at $50,458 after suffering flash-crash lows around the $43,500 level nearly a week ago.

The analyst next looks at decentralized exchange and automated market maker protocol Curve DAO Token (CRV). The chart’s ascending pattern of higher highs and higher lows in recent months makes Credible think that CRV skeptics are in for a rude awakening.

“Bears looking for lower prices about to get hit with a curveball.”

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Source: Credible Crypto/Twitter

At time of writing, CRV is even on the day and changing hands for $4.01.

Finally, the pseudonymous trader considers the road ahead for leading smart contract platform Ethereum and the market leader Bitcoin.

He expects both crypto assets to experience a strong V-shaped recovery, with ETH working its way higher and higher – possibly to $10,000 or more per token.

“Getting ‘V reversal’ vibes here [to be honest]. This implies the bottom is in at $3,600 and we are essentially going to grind up with small dips along the way but nothing major.

Think ETH leads the way. Breaking and closing above $4,600 pretty much confirms it [in my opinion]. Gonna be fun. ETH. BTC.”

Ethereum is currently trading for $4,392, up 1.38% on the day.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/DM7/nsimsek0/Vladimir Sazonov

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