A popular crypto strategist says a decentralized financial altcoin mimics the patterns of other crypto assets just before they erupted.
The pseudonymous crypto analyst Pentoshi tells his 429,500 Twitter followers that the Curve Dao Token (CRV) looks like a “coiled spring coil”.
CRV is the governance token for Curve Finance, a decentralized exchange for stablecoins that aims to ensure minimal slippage by attracting deep liquidity.
Pentoshi states that he sees a pattern on the Curve / Bitcoin (CRV / BTC) chart where CRV starts making higher highs and higher lows once it breaks into a volume gap, which is the distance between recent highs and lows the highs in a long time is ahead.
“Diagram. Clean, multi-year level with HH + HL compression in Vol Gap”
Source: Pentosh1 / Twitter
The 74th crypto asset by market cap is trading at $ 5.09 at the time of writing, up 9.43% over the past 24 hours. CRV is also trading at almost the same level as it was a month ago.
The analyst then compares CRV’s chart with the shape of previous rallies made by the scalable smart contract platform Algorand (ALGO), the proof-of-stake blockchain Cardano (ADA) and the leading crypto bitcoin.
ALGO is trading at $ 1.62, down 1.12% on the day, while ADA is trading at $ 1.34, up 2.80% in the past 24 hours. BTC is trading hands at $ 48,606.50, which is down 1.82% at the time of writing.
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