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Home»ALTCOIN NEWS»Analyst Predicts ‘Moon’ Rally for DeFi Altcoins, Says One Crypto Asset Is on the Rise
ALTCOIN NEWS

Analyst Predicts ‘Moon’ Rally for DeFi Altcoins, Says One Crypto Asset Is on the Rise

By Crypto FlexsAugust 19, 20242 Mins Read
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Analyst Predicts ‘Moon’ Rally for DeFi Altcoins, Says One Crypto Asset Is on the Rise
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A widely known crypto strategist says governance tokens for decentralized finance (DeFi) lending protocols are gearing up for a rally.

Anonymous analyst The Crypto Dog told his 809,500 followers on social media platform X that he is bullish on Aave (AAVE).

The trader shared a chart suggesting that AAVE has successfully retested the $107 support level.

“I think it will be the moon.”

Source: The Crypto Dog/X

As of this writing, AAVE is trading at $111.62, which is down slightly over the last 24 hours but up more than 46% from its low of $75 on August 5.

Looking at another DeFi project, Curve DAO (CRV), the analyst said that the altcoin appears to be following in the footsteps of AAVE on the Bitcoin pair (AAVE/BTC).

“finally, CRV Come alive…

BTC is near resistance line and powerful altcoins are surging.

Pay attention to the strength of the ratio pairs. Ignore alternative assets that cannot go up against BTC.

“Right now I’m the AAVE leader, but I think CRV will join soon.”

Source: The Crypto Dog/X

As of this writing, CRV is trading at $0.313, down more than 3% over the past day but up more than 70% from its low of $0.18 on August 5.

The Crypto Dog is bullish on AAVE and CRV, while he says altcoins look vulnerable at the moment.

“I’m thinking of buying some more stocks. If we don’t bounce back from here, I’m going to go to hell.”

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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.

Featured image: Shutterstock/Moksha Labs/Natalia Siiatovskaia

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