A crypto strategist known for accurately predicting the bottom of the Bitcoin bear market in 2018 lists seven DeFi (decentralized finance) tokens that he believes could explode.
The pseudonymous analyst named Smart Contracter says Aave (AAVE) is a high conviction bet as it believes the DeFi asset will break out of a bullish pattern.
“Admittedly, I’m not sure at BTC at the moment whether I can stand up for both sides. However, on many large DeFi projects, I am very optimistic and have a lot more faith in Longs.
Aave, for example, is preparing to break this ascending triangle at any time. “
The crypto strategist relies on Elliott wave theory, which tries to identify recurring wave patterns in order to predict the behavior of market participants. Based on Aave’s trajectory, Smart Contracter expects the DeFi darling to grow by over 60% in the next two weeks.
“AAVE is going to be parabolic soon. You’ve got plenty of caution about the last chance to jump to an all-time high before the run. “
The analyst goes one step further with his prediction. saying Aave will break out to a minimum of $ 150 early next year, which is over 100% growth from the current price of $ 74 in about two months.
“$ 150 dollars for AAVE is inevitable. Once we clear the USD 90 resistance, pricing begins. I’m going to say $ 150 for the lols, but I think it could go way, much higher. “
Smart Contracter is also reviewing a select group of additional DeFi assets that it believes would hold up well against Bitcoin (BTC).
He says that Synthetix (SNX / BTC), Sushi (SUSHI / BTC), Uniswap (UNI / BTC), PowerPool (CVP / BTC) and yearn.finance (YFI / BTC) have the potential to print 100% profit.
All major DeFi / BTC pairs look great for 50-100% higher moves.
– “DeFi heats up Bluntz” (@SmartContracter) November 29, 2020
Looking at PowerPool against the US dollar, smart contracter predicts that CVP / USD would end its downtrend as soon as the pair breaks the major resistance level.
“Powerpoolcvp CVP is now in the second major resistance with 3.3 USD. Above that and there is literally clear sky in front of us. “
The Elliottiker also keeps an eye on Ampleforth’s market cap, which he is believes is expected to hit a new all-time high before 2020 is over.
“MAKE REBASE GREAT AGAIN! AMPL now plus 41%. Pro tip, market cap chart, not price. Ponzi Round 2 is currently running. “
Meanwhile, Smart Contracter is bearish in the US dollar index. He says the DXY is still on a downward trend and that is good news for Bitcoin.
“I think the DXY is still macrobearic and anyone who says otherwise will trip over balls.
IMO, we are going sideways and consolidating before exiting 91 and making new lows. By and large, this is good for BTC. We’ll have dips along the way though. “
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