An altcoin now displays the pre-breakout patterns of Cardano, Algorand, and Bitcoin, says Crypto Analyst – The Every day Hodl

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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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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in bitcoin, cryptocurrency, or digital assets. Please note that your transfers and transactions are made at your own risk and you are responsible for any losses. The Daily Hodl does not recommend buying or selling 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 / LayerAce.com / Vladimir Sazonov


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