A widely followed crypto strategist believes a decentralized finance (DeFi) altcoin is poised for “explosive” rallies.
Pseudonymous analyst Altcoin Sherpa tells his 215,400 followers on social media platform X that lending platform Aave’s native token (AAVE) could soon spark a fresh rally after trading in a range for weeks.
“The real move in AAVE is coming back soon. I caught it (on September 8th) but got out (just as a scalp). I think a more explosive move is coming though… lots of compression. Of course we need BTC to play well first, but eyes are on AAVE.”
AAVE is trading at $137 at the time of writing, up over 11% in the past 24 hours.
Next, the analyst states that he is becoming bullish on Solana (SOL) competitor Sui (SUI). He claims that SUI could drop to the Fibonacci retracement level at $0.87, which is a good entry point for bulls.
“$0.87 would be a good entry for SUI.”
SUI is trading at $0.91 at the time of writing, down slightly over the past 24 hours.
Finally, the analyst says the rally in the Alliance for Artificial Superintelligence (FET) could continue to rise after breaking out.
“Nice upside for FET (September 8); whether this stock has the potential to go higher remains to be seen. I would definitely lower it a bit to around $1.21.”
At the time of writing, FET is trading at $1.16, up more than 9% in the past 24 hours.
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