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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/analyst-foresees-cvx-price-increase" data-wpel-link="internal" rel="noopener noreferrer nofollow">Analyst Foresees CVX Price Increase</a><br></p>
<p style="text-align: justify">In the ever-evolving crypto landscape, a renowned analyst has shifted focus from popular cryptocurrencies like Bitcoin and Ethereum to lesser-known altcoins with high potential. One such altcoin, CVX, a native token of the Convex Finance decentralized exchange, has caught the analyst’s attention. Ranked just outside the top 200, CVX is poised for a significant price surge, according to the expert’s analysis.</p>
<h2 id="why-is-cvx-anticipated-to-rise">Why Is CVX Anticipated to Rise?</h2>
<p style="text-align: justify">Credible Crypto, an influential figure in the crypto community, shared his bullish expectations for CVX on social media platform X. He highlighted the token’s readiness to kick off a robust upward movement, entering the third phase of its USD pairing. Credible Crypto believes this phase could lead to substantial gains, initially targeting a price of $4.70. He bases his forecast on the Elliott Wave theory, which suggests that the third wave of a bullish trend is typically the most powerful.</p>
<h2 id="what-is-the-elliott-wave-theory">What Is the Elliott Wave Theory?</h2>
<p style="text-align: justify">The Elliott Wave theory, employed by Credible Crypto, posits that <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">financial markets</a> move in predictable cycles or waves. According to this theory, a bullish asset experiences a five-wave rise, with the third wave being exceptionally strong. The analyst’s chart indicates that CVX’s third wave could drive its price to $4.40 initially, followed by a potential move above $7. As of now, CVX has seen a 2.40% increase in the past day, trading at $2.83.</p>
<h2 id="key-inferences">Key Inferences</h2>
<p style="text-align: justify">From the analysis, several actionable insights emerge for investors:</p>
<ul>
 <li>CVX is approaching a critical support level in BTC and USD pairings.</li>
 <li>The third Elliott wave could propel CVX prices significantly higher.</li>
 <li>Close monitoring of support levels can reveal optimal entry points for investments.</li>
</ul>
<p style="text-align: justify">Next, the analyst examined <a href="https://en.bitcoinhaber.net/optimism-returns-to-crypto-markets-as-bitcoin-breaks-resistance-eyes-on-xrp-coins-next-move" data-wpel-link="internal" rel="noopener noreferrer nofollow">XRP</a>, predicting a final correction before a move to the $1 region. He suggested that a drop to $0.50 or below could present a trading opportunity. Currently, XRP is trading at $0.6084 with a market cap exceeding $34 billion.</p>
<p style="text-align: justify">Lastly, the analyst reviewed Ethereum (ETH), anticipating a potential dip below $2,800. He linked this scenario to potential weaknesses in Bitcoin (BTC). Presently, ETH is trading at $3,173 after an 8% drop, which is partly attributed to significant outflows from Ethereum ETFs.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/analyst-foresees-cvx-price-increase" data-wpel-link="internal" rel="noopener noreferrer nofollow">Analyst Foresees CVX Price Increase</a></h5>

Analyst Foresees CVX Price Increase

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