A closely watched crypto strategist believes a decentralized finance (DeFi) altcoin is gearing up for ‘explosive’ rallies.
Pseudonymous analyst Altcoin Sherpa tells According to its 215,400 followers on social media platform
“AAVE’s real move will come again soon. I caught it [on September 8th] but am out (just like a scalp). However, I think there will be a more explosive movement…lots of compression. Of course we first need BTC to play well, but we are also looking at AAVE.”
AAVE is trading at $137 at the time of writing, up more than 11% in the last 24 hours.
Then the analyst say he becomes bullish on Solana (SOL) competitor Sui (SUI). He says SUI could fall to the Fibonacci retracement level of $0.87, which would be a good entry point for bulls.
“$0.87 would be a good entry point for SUI.”
SUI is trading at $0.91 at the time of writing, down slightly in the last 24 hours.
Finally, the analyst say that the Artificial Superintelligence Alliance (FET) rally could continue higher after the breakout.
“Nice step forward for FET [September 8th]; to determine if this has the juice to go higher. I would definitely pick something up for $1.21.”
FET is trading at $1.16 at the time of writing, up more than 9% in the last 24 hours.
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Generated image: Midjourney