An altcoin now reflects the pre-breakout patterns of Cardano, Algorand and Bitcoin, according to the famous crypto analyst. A popular crypto strategist says that a decentralized finance (DeFi) altcoin mimics the patterns of other popular crypto assets in its pre-boom era. Detail Cryptocoin. com
Cardano, an altcoin after BTC and ALGO
The pseudonymous crypto analyst known as Pentoshi tells his 429,500 Twitter followers that the Curve Dao Token (CRV) looks like a “coiled spring coil.” CRV is the management token for Curve Finance, a decentralized exchange for stablecoins that aims to provide minimal volatility by attracting deep liquidity. Pentoshi notes that he sees a pattern in the Curve/Bitcoin (CRV/BTC) chart where the CRV starts making higher highs and higher lows as it enters a volume gap. Analyst, ” Chart. “A clean, multi-year level with HH + HL compression into the volume space.”
The 74th-ranked cryptocurrency by market cap is trading at $5.09 at the time of writing, up 9.43% in the last 24 hours. The CRV is also trading at nearly the same level it was priced at a month ago. The analyst then compares CRV’s chart to the shape of previous rallies by scalable smart contract platform Algorand (ALGO), proof-of-stake blockchain Cardano (ADA), and leading crypto Bitcoin. ALGO was trading at $1.62, down 1.12% on the day, while ADA was priced at $1.34, up 2.80% in the last 24 hours. At the time of writing, BTC was changing hands at over $50,000, up 3%.