A closely followed crypto strategist and trader is plotting the bottom targets for Ethereum (ETH) and two other altcoins as he believes the worst of the market pullback is over.
Credible tells his 241,400 Twitter followers that he’s looking at Ethereum to bottom out at a weekly support level.
“Almost to my target, looking for around $2,700 ETH.”
Another coin on the trader’s radar is the peer-to-peer payments network Hedera Hashgraph (HBAR).
The analyst says he’s looking at HBAR to bounce around its “main support” at $0.30.
“We had a 46% correction into HTF (high timeframe) support after breaking out of a seven-month consolidation. This is a HTF bullish retest until/unless this region is lost. This is also the most ideal place to be a buyer of HBAR.”
The crypto strategist is also keeping a close watch on Convex Finance (CVX), a decentralized finance protocol built on top of Curve Finance. Credible says he expects CVX to bounce at support around $7.00 and rally to a new all-time high.
“Went a little lower than I was expecting on this dip, but I would be VERY surprised if this was not our local bottom. CVX.”
As for Bitcoin (BTC), Credible believes that the leading cryptocurrency has already carved a local bottom at $40,000.
At the time of writing, Bitcoin is exchanging hands at $43,320, according to CoinGecko.
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Featured Image: Shutterstock/Faraz Hyder Jafri