A prominent crypto strategist believes one decentralized finance (DeFi) altcoin is gearing up for an “explosive” rally.
Altcoin Sherpa, an anonymous analyst, told his 215,400 followers on social media platform X that the native token of lending platform Aave (AAVE) could soon see an uptrend again after trading range-bound for several weeks.
“The real move in AAVE is coming soon. I caught it (September 8th) but got out (with a scalp). But I think there will be a more explosive move… lots of compression. Of course, we need BTC to play well first, but keep an eye on AAVE.”
At the time of writing, AAVE is trading at $137, up more than 11% in the last 24 hours.
The analyst then said he would turn bullish on Solana (SOL) competitor Sui (SUI). He said SUI could fall to the Fibonacci retracement level of $0.87, which would provide a good entry point for a bullish move.
“For SUI, $0.87 would be a good entry point.”
At the time of writing, SUI is trading at $0.91, down slightly over the last 24 hours.
Finally, the analyst says the Artificial Intelligence Federation (FET) rally could continue to rise even after the breakout.
“Good move on FET (Sep 8). Whether this has the juice to go higher remains to be seen, but somewhere around $1.21 it would definitely see some downside.”
At the time of writing, FET is trading at $1.16, up over 9% in the last 24 hours.
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 your responsibility and any losses you may incur are your 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