A closely followed crypto strategist believes that one decentralized finance (DeFi) altcoin is gearing up for “explosive” rallies.
Pseudonymous analyst Altcoin Sherpa tells his 215,400 followers on the social media platform X that the native token for lending platform Aave (AAVE) could soon spark another leg up after trading in a range for weeks.
“AAVE’s true move coming again soon. I caught it [on September 8th] but am out (just as a scalp). I think a more explosive move is going to come though…lots of compression. Of course, we need BTC to play nice first but eyes on AAVE.”
AAVE is trading for $137 at time of writing, up more than 11% in the last 24 hours.
Next up, the analyst says he is turning bullish on Solana (SOL) competitor Sui (SUI). He says that SUI may dip to the Fibonacci retracement level at $0.87, presenting a good entry point for bulls.
“$0.87 would be a good entry for SUI.”
SUI is trading for $0.91 at time of writing, down slightly in the last 24 hours.
Lastly, the analyst says that the Artificial Superintelligence Alliance (FET) rally could continue higher after breaking out.
“Nice move up for FET [September 8th]; to be determined if this has the juice to go higher. Would definitely take some off at $1.21ish though.”
FET is trading for $1.16 at time of writing, up more than 9% in the last 24 hours.
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