A well-known crypto strategist is optimistic about a particular decentralized finance (DeFi) altcoin that appears to be preparing for substantial rallies.
Pseudonymous analyst Altcoin Sherpa informs his 215,400 followers on X that the native token of the lending platform Aave (AAVE) may soon initiate another upswing after being in a trading range for several weeks.
“AAVE’s next significant move is on the horizon. I made a quick trade [on September 8th] but exited (just for a scalp). I anticipate a much more vigorous movement coming soon… there’s a lot of compression. We need BTC to cooperate first, but keep an eye on AAVE.”
AAVE is currently priced at $137, having gained over 11% in the past 24 hours.
Next, the analyst mentions his bullish outlook on Sui (SUI), a competitor to Solana (SOL). He believes SUI might retrace to the Fibonacci level at $0.87, providing an excellent entry point for bullish investors.
“$0.87 would present a solid entry for SUI.”
SUI is trading at $0.91 at the moment, down slightly over the last 24 hours.
Finally, the analyst indicates that the Artificial Superintelligence Alliance (FET) could continue its upward movement after recently breaking out.
“Great upward movement for FET [on September 8th]; it’s yet to be seen if it can sustain this momentum. I would definitely consider taking some profits at around $1.21.”
FET is currently valued at $1.16, marking an increase of over 9% in the last 24 hours.
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Disclaimer: The opinions expressed at The Daily Hodl do not constitute investment advice. Investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Be aware that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor does it act as an investment advisor. The Daily Hodl participates in affiliate marketing.
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