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Home»ALTCOIN NEWS»Ethereum DeFi Altcoin Showing Bullish Difference as Indicator Enters ‘Bounce Zone’: Santiment
ALTCOIN NEWS

Ethereum DeFi Altcoin Showing Bullish Difference as Indicator Enters ‘Bounce Zone’: Santiment

By Crypto FlexsDecember 15, 20232 Mins Read
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Ethereum DeFi Altcoin Showing Bullish Difference as Indicator Enters ‘Bounce Zone’: Santiment
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According to cryptocurrency analytics firm Santiment, several Ethereum (ETH)-based native tokens for decentralized finance (DeFi) projects are showing signs of strength.

Aave (AAVE), a DeFi lending protocol, is trading at $93.89 at the time of writing and is up over 2.3% in the last 24 hours.

st tly note The top 150 non-exchange wallets by asset currently hold 9.61 million AAVE, a five-month high.

Source: Santiment/X

The analytics firm also noted that AAVE’s Relative Strength Index (RSI) has fallen below 40, which has historically been a “bounce zone” for the asset.

RSI is a momentum indicator widely used to determine whether an asset is overbought or oversold. The indicator is scaled from 0 to 100, with values ​​below 30 generally considered bullish and above 70 generally considered bearish signals.

Other cryptocurrency assets include Santiment note Ethereum competitor Cardano (ADA) discovered a small wallet suddenly missing in mid-November.

“A decline in addresses below this size often signals capitulation and a potential price tipping point. Afterwards, ADA is +65%.”

Source: Santiment/X

ADA is trading at $0.635 at the time of this writing. The eighth-largest cryptocurrency asset by market capitalization is up nearly 8% in the last 24 hours.

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and that you are responsible for any losses that may occur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

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