A widely known analyst and trader has become bullish on one altcoin in the Ethereum (ETH) ecosystem, while also updating his outlook on three cryptocurrencies.
A trader known by the pseudonym Sherpa told his 223,200 followers on social media platform X that Aave (AAVE) is “still undeniably strong.” The Ethereum-based decentralized finance (DeFi) lending platform is now sitting below key resistance levels on the weekly timeframe after a years-long consolidation phase.
“I’ve been chopping this up for over two years and it looks like it’s done.”
As of this writing, AAVE is trading at $147, up about 54% over the last 30 days.
Next up is Solana (SOL). According to widely followed traders, Solana is in the process of bottoming on the daily timeframe.
“I think it’s going to get tough from here. It’s not a bad swing trade as long as Bitcoin is friendly.”
As of this writing, Solana is trading at $134.
Looking at the native token of the BNB chain, Sherpa said BNB, the fourth-largest cryptocurrency by market cap, is likely to show strength as it sits below the key resistance level of $612.
“I expect this to continue with the BNB King’s return to the country soon.”
At the time of writing, BNB is trading at $543.
Next up is the utility token for the Layer 1 blockchain, Sui (SUI). According to Sherpa, SUI on the 4-hour chart is “still very bullish” and could soon break above the resistance level near the $1 price.
As of this writing, SUI is trading at $1.03, up about 26% over the last seven days.
Don’t miss out – subscribe to receive email notifications straight to your inbox
Price check task
Follow us XFacebook and Telegram
Surfing the Daily Hodl Mix
 
Disclaimer: The opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investment in Bitcoin, cryptocurrencies or digital assets. Your transfers and transactions are at your own risk and any losses you may incur are your own responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets and The Daily Hodl is not an investment advisor. The Daily Hodl participates in affiliate marketing.
Generated image: Midjourney