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Crypto Analyst Predicts Short Squeeze for DeFi Altcoin After $41 Million Hack

Crypto strategist Credible Crypto suggests that Curve (CRV), a decentralized finance (DeFi) platform, may experience a short squeeze due to a significant amount of short interest. However, if the native token on the platform does not decrease in value soon, it could trigger a short squeeze.

Credible Crypto predicts that CRV could decline by 17% from its current value of $0.59 to $0.49. This prediction is based on the Elliott Wave theory, which suggests that the main trend of an asset's price action occurs in a five-wave pattern. The platform suffered a $41 million hack due to a vulnerability with the programming language Vyper 0.2.15.

Curve DAO Token Curve DAO Token $0.43
+11.83%
Decentralized Finance
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