Dutch trader and analyst Crypto Michael, or real name Michael van de Poppe, commented on the CRV and SXP charts with the altcoin video he published. The commentator, who analyzed the chart for the two altcoins, said that both could set a new record in the long run.
- Analyst Crypto Michael said the Curve was in a bearish trend and could not maintain the $ 1 support level, and he stood above 2 scenarios for the short term.
- In the first one, Michael said that he could see a little below the current 0.90 level, and that he could show a stable performance here.
- For the second scenario, which was more optimistic, he suggested that he could draw a “Head and Shoulders” chart showing two lows with an upward break and one high in the middle. Poppe underlined that $ 1 should be protected on this chart.
- Stating that he has received very positive signals for the Poppe Curve in the long term, he said that it will be upward in the near future.
- Saying that it is an untested zone at $ 2.70, Crypto Michael stated that the CRV price fell down, losing the support of $ 1.65.
- He emphasized that $ 1 – 1.10 should be taken as the support zone for the Curve coin, currently trading at $ 0.90-1.
- The analyst argued that the Curve price could easily reach the range of $ 2.20 – $ 2.70 if the $ 1.65 threshold, which was the previous support zone, is exceeded.
- Crypto Michael started his words by saying that the steep pyramid pattern displayed on the Swipe charts is just a bubble trend.
- Foreseeing that SXP will take steps to consolidate before entering a new cycle, the analyst said that he expects a stable outlook in the charts in the short term. The commentator also stressed the importance of not losing the $ 0.75 level on this stable chart.
- Michael said that the SXP, whose current price is about $ 1.18, still maintains the $ 1 support zone.
- However, the analyst stated that he does not think the SXP price will exceed $ 2 anytime soon.
- Defending that the SXP will encounter a resistance around $ 1.8-2, Michael predicts a sideways fluctuation in the charts.
- The analyst believes that if the $ 1 – $ 1.4 levels are maintained during this volatile move, the SXP price could hit $ 3 or even a new record.