The popular digital asset analyst known as Credible is analyzing the short-term outlook for Bitcoin (BTC), Ethereum (ETH) and one decentralized finance (DeFi) altcoin.
The trader says in a new Loom video that he thinks Bitcoin will likely jump up to the $19,000 range “for some proper relief.”
However, he also says the alternate scenario is that Bitcoin loses the “must-hold” level of $16,300-$16,400 and drops to lows around $16,000.
BTC is trading at $16,684 at time of writing, a fractional increase on the day.
Credible also thinks Ethereum will track Bitcoin’s trajectory. He says ETH could potentially have one more leg to the upside, but he thinks regardless it will drop to new local lows below $1,073 “sooner or later.”
ETH is trading at $1,191 at time of writing. The second-ranked crypto asset by market cap is up 1.30% in the past 24 hours.
The analyst also thinks the native token on DeFi platform Curve DAO (CRV) will likely track Bitcoin and Ethereum and possibly have another leg to the upside toward $0.70 before correcting back down to the $0.50 region. He also predicts that the 93rd-ranked crypto asset by market cap could break out a few months into 2023 and rally to his target of $1.55.
CRV is trading at $0.524 at time of writing and is down more than 3% in the past day.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxCheck Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
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/world01
