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Home»Analysis»DeFi Altcoin Flashing Tier-One Setup and Could Ignite 56% Rally, According to Crypto Strategist
Analysis

DeFi Altcoin Flashing Tier-One Setup and Could Ignite 56% Rally, According to Crypto Strategist

January 16, 2025No Comments2 Mins Read
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A prominent crypto strategist believes that a specific altcoin within the decentralized finance (DeFi) sector is showing strength when compared to both the US dollar and Bitcoin (BTC).

Bluntz, a well-known analyst in the crypto space, recently shared his insights with his large following on the X social media platform. According to Bluntz, the DeFi lending platform Aave (AAVE) is displaying several bullish signals on the eight-hour chart.

In his post, Bluntz highlighted that AAVE is currently one of his top picks, pointing out a clear ABC correction on the eight-hour chart, as well as five waves within the C wave. Additionally, he mentioned the presence of a bullish divergence on the eight-hour chart, which he believes is a strong indicator for a potential upward trend.

The analyst, who follows the Elliott Wave theory, suggested that AAVE has completed its ABC retracement and is poised for a significant price increase. He predicted that AAVE could potentially reach $460 in the near future, representing a potential gain of around 56%.

When analyzing the AAVE/BTC pair, Bluntz also noted a similar setup, indicating that AAVE is likely to outperform Bitcoin in the coming days. With a high timeframe eight-hour bullish divergence in play, Bluntz is optimistic about AAVE’s prospects against BTC.

As of the time of writing, the AAVE/BTC pair is trading at 0.003034 BTC, equivalent to $294.71.

For the latest updates and alerts on cryptocurrency trends, be sure to subscribe to our email alerts and follow us on X, Facebook, and Telegram. Stay informed and stay ahead in the ever-evolving world of crypto trading.

See also  $264M Token Unlock and Domain Expiry in June, Will Price Crash?

Image Source: Midjourney

In conclusion, Bluntz’s analysis of Aave (AAVE) suggests a positive outlook for the altcoin in both USD and BTC pairs. With multiple bullish signals and potential for significant growth, AAVE could be a strong contender in the DeFi space in the near future. Keep a close eye on this promising asset as it continues to make waves in the crypto market.

altcoin Crypto DeFi Flashing Ignite Rally Setup Strategist TierOne
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