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Credible Predicts Fresh Spike for Solana as it Gears Up For Another Rally


bitcoinworld.co.in 25 October 2021 03:33, UTC
Reading time: ~2 m

Credible is s popular crypto strategist and trader. More so, he goes on again to make predictions on the smart contract platform Solana. Notably, Credible says one low-cap altcoin is setting up for a supply shock.

Furthermore, the Pseudonymous crypto analyst Credible reveals this to his 251,900 Twitter followers. More so, saying Solana (SOL) will soon engage in a rugged rally. This, of course is after breaking out and starting a new wave of its cycle.

“SOL is leading the market and looks to have completed its macro 4th wave as a triangle…”
“This implies we have begun the final fifth wave of SOL’s first macrocycle…”
“This is going to be epic and a taste of what we will see across the board in the coming months. Expecting $500+.”

Additionally, Credible uses the Elliott Wave theory, a technical analysis to support his claims.

Meanwhile, he’s also considering Curve (CRV). So, CRV is the governance token of stablecoin-focused decentralized exchange Curve Finance.
Notably, Credible expects CRV to spike as high as $6.50. Especially, after breaking through a key resistance at $3.50.

“CRV is synergistic with CVX (Convex Finance)…”
“I can’t explain the mechanics in a tweet – but when CVX goes up it increases the inherent…”
“value of CRV and when CRV goes up it increases the inherent value of CVX.”

Furthermore, Credible explains.

Also, Convex Finance assists CRV token holders and liquidity providers to earn additional interest rewards.
Currently, CRV is trading at around $3.75 while CVX trades at around $19.61.

Lastly, Credible notes he’s bullish on Curve, stating that about 90% of its supply is aside for the coming years.

“Oh, and 89% of all circulating CRV is locked away for around 3.7 years lmao…”
“So when we DO break out and everyone is clamoring to join in on the green candles,..”
“there is going to be a massive supply shock that sends prices even higher, faster…”
“Get yours before it all starts… Yea so locking generates voting power – which in turn is…”
“used to boost yields for other protocols – so vote locked CRV is in high demand.”

Credible concludes.

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