{"id":2601,"date":"2021-12-23T11:11:13","date_gmt":"2021-12-23T11:11:13","guid":{"rendered":"http:\/\/egrowonline.com\/?p=2601"},"modified":"2021-12-23T11:11:13","modified_gmt":"2021-12-23T11:11:13","slug":"one-altcoin-is-now-mirroring-pre-breakout-patterns-of-cardano-algorand-and-bitcoin-says-crypto-analyst","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=2601","title":{"rendered":"One Altcoin Is Now Mirroring Pre-Breakout Patterns of Cardano, Algorand and Bitcoin, Says Crypto Analyst"},"content":{"rendered":"


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A popular crypto strategist says one decentralized finance altcoin is mimicking the patterns of other crypto assets right before they broke out.<\/p>\n

The pseudonymous crypto analyst known as Pentoshi tells<\/a> his 429,500 Twitter followers that Curve Dao Token (CRV) looks like a \u201ccoiled spring wound tight.\u201d<\/p>\n

CRV is the governance token for Curve Finance, a decentralized exchange for stablecoins that aims at ensuring minimal slippage by attracting deep liquidity.<\/p>\n

Pentoshi indicates he\u2019s seeing a pattern on the Curve\/Bitcoin (CRV\/BTC) chart where CRV starts making higher highs and higher lows right as it breaks into a volume gap, which is the space between the recent highs and the highs from a long time ago.<\/p>\n

\u201cChart. Clean, multi-year level with HH + HL compression into vol gap\u201d<\/em><\/p>\n

\"Image\"
Source: Pentosh1\/Twitter<\/a><\/figcaption><\/figure>\n

The 74th-ranked crypto asset by market cap is trading at $5.09 at time of writing, up 9.43% in the past 24 hours. CRV<\/a> is also trading at a nearly identical level to where it was priced one month ago.<\/p>\n

The analyst then compares CRV\u2019s chart to the shape of previous rallies made by scalable<\/a> smart contract platform Algorand (ALGO), proof-of-stake blockchain<\/a> Cardano (ADA) and leading crypto<\/a> Bitcoin.<\/p>\n

ALGO<\/a> is trading at $1.62, down 1.12% on the day while\u00a0ADA<\/a> is priced at $1.34, up 2.80% over the last 24 hours. BTC<\/a> is exchanging hands at $48,606.50, down 1.82% at time of writing.<\/p>\n

Check Price Action<\/a><\/span><\/em>
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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.<\/h6>\n<\/div>\n

Featured Image: Shutterstock\/LayerAce.com\/Vladimir Sazonov<\/em><\/span><\/p>\n

\u00a0<\/p>\n<\/p><\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A popular crypto strategist says one decentralized finance altcoin is mimicking the patterns of other crypto assets right before they broke out. The pseudonymous crypto analyst known as Pentoshi tells his 429,500 Twitter followers that Curve Dao Token (CRV) looks like a \u201ccoiled spring wound tight.\u201d CRV is the governance token for Curve Finance, a […]<\/p>\n","protected":false},"author":1,"featured_media":2602,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[42],"tags":[529,349,646,50,266,62,2368,2370,2369],"class_list":["post-2601","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins","tag-algorand","tag-altcoin","tag-analyst","tag-bitcoin","tag-cardano","tag-crypto","tag-mirroring","tag-patterns","tag-prebreakout"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2021\/12\/altcoin-mirroring-patterns.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/2601","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2601"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/2601\/revisions"}],"predecessor-version":[{"id":2603,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/2601\/revisions\/2603"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/2602"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2601"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2601"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2601"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}