The cryptocurrency market traded in the green over the last 24 hours, with Bitcoin up by 3.36 percent. Meanwhile, Ethereum gained 1.32 percent, while Solana (SOL) is the top performer with an 8% gain.
A widely followed crypto analyst, with Twitter handle, Credible Crypto is bullish on five altcoins following Bitcoin’s (BTC)
Whales appear to be acquiring Convex Finance, whose CVX token powers the Curve Finance decentralized exchange, according to Credible Crypto, a pseudonymous trader with Twitter followers.
“Another million-dollar purchase of CVX from the pros at a price of $21.53 per CVX. Yeah, you’re still early.”
CVX has been trading in the range of $17-$20 in the last 24 hours. At the time of writing, it is trading at $19.52, $20 seems to be the crucial resistance, a fall below $17 may result in more downside in the future.
XRP is looking solid, according to Credible, despite Ripple’s legal battle with US securities regulators.
He believes XRP will turn support from a historic level of resistance, paving the stage for a huge rise.
He says he is in awe of how beautiful the XRP chart is.” I’m not sure how an analyst could make an objectively bearish case for this chart from a technical standpoint.” he added. XRP is going to melt people’s faces when we break up here soon, he predicts.
The overnight upward spike in the XRP has come to an end, with some offers around the 1.1000 mark. In the previous 24 hours, Ripple XRP has lost 3.40 percent of its value. New crypto market downturns have a negative impact on cryptocurrencies, including Ripple, therefore the price of Ripple (XRP) may continue to plummet.
According to the expert, Ethereum (ETH) is on track to set new records, following in the footsteps of Bitcoin’s recent record-breaking rise. According to CoinGecko, ETH is presently trading at $4,040.
The support trend line at $3,960 will provide immediate support, followed by the 78.6 percent Fibonacci retracement level at $3,797.
Credible Crypto predicts a new all-time high for the digital asset of the decentralized public network Hedera Hashgraph (HBAR) if it can overcome the last hurdle at $0.47.
He says HBAR is following the plan to a tee. Coiling up against the range’s midpoint. He expects it to break soon, and reach the range’s highs at.43. “Clear RED and a new all-time high are on the way.”
HBAR has had fluctuations with minimal volatility, as it has been trading in the range of $0.3847 to $0.3720. the tokens ATH is at $0.56. the token has to jump 20 cents to reach the level.
Solana (SOL) is also expected to hit a new all-time high, according to the analyst. Over the last seven days, the crypto asset has risen about 26%, from $162.60 to $204.30.
He mentions that it’s worth noting that the ORANGE region was the final line of resistance before a considerably wider drop.
He explains the token held, “BTC broke through resistance, and the bearish scenario was thrown out the window. Prepare for a new all-time high not only on SOL but on a slew of other alts as well.”
The price of Solana is climbing today, following a significant change today and brief consolidation below $190 resistance. As a result, we expect SOL/USD to rise even further in the next 24 hours, aiming for the $215 all-time high.