A popular analyst is calling for a massive rally for a DeFi coin.

The person known in the industry as Credible Crypto told his 267,000 Twitter followers that CRV, the governance token of decentralized finance (DeFi) platform Curve will hit $40 this cycle, Con This represents an increase of about 811% from the current price.

The analyst points out that Curve has more total value locked (TVL) in its platform than any other DeFi protocol in the industry with most of the supply locked in the long term.

“A 10x increase in CRV from here is very possible. That is a conservative estimate for the top protocol in the DeFi space with a $20 billion TVL, over 90% of supply locked for almost 4 years, and a break above the 9-month accumulation zone. $40+ for CRV at the end of this cycle.”

Source:  Defillama.com

At the time of writing, CRV is trading at $4.42.

Looking at Bitcoin, Credible says that the crypto king looks set to underperform in the short term. According to him, BTC could face more selling pressure unless it reclaims the $59,000 level.

“The low time frames are not looking attractive after the recent sell-off. Need to reclaim 59k now if it wants to keep going up to 62-63k. The bears will be in control until then.”

Source: CredibleCrypto/Twitter

Credible also sees a similar situation playing out on Ethereum. He said that if ETH wants to end its recent correction, it must first reclaim the $4,385 region.

“ETH is still selling off at higher levels. It needs to reclaim the key $4,385 level in the next few days. If not, I'm glad I closed some profits and now have the cash reserves to buy the dip. A successful recapture will help ETH rally to all-time highs.”

Source: CredibleCrypto/Twitter