A popular crypto strategist predicted that Aave (AAVE) altcoin, which is in the decentralized finance (DeFi) space, will be traded between the US dollar and Bitcoin. $96,738.3He stated that it showed strong signals against . The analyst shared on the social media platform that AAVE showed multiple positive signs on the eight-hour chart.
Analyst’s Views
Pseudonymous analyst Bluntz told his 308,500 followers that DeFi lending platform Aave is showing positive signals such as a clear ABC correction on the eight-hour chart, a clear five waves within wave C, and an eight-hour bullish divergence forming.
“AAVE is one of my favorite altcoins out there. T1 (tier-one) setup according to your opinion.” – Bluntz
Elliott Wave Theory
Bluntz follows Elliott Wave theory; This theory suggests that a bullish asset will experience a five-wave increase after completing its ABC correction. According to the analyst’s charts, AAVE has completed its ABC retracement and there is a bullish divergence supporting a potential reversal.
AAVE/BTC Performance
Bluntz stated that the AAVE/BTC pair showed a similar setup, indicating that the coin is preparing to surpass Bitcoin.
“AAVE/BTC looks the same, with a nice eight-hour bullish divergence on the higher timeframe.” – Bluntz
At the time of analysis, AAVE/BTC was trading at a value of 0.003034 BTC, approximately $294.71.
Potential Ascension
Bluntz predicts that AAVE could rise as high as $460 next, an upside potential of around 56%.
These positive signals of Aave, which is in the DeFi field, may be remarkable for investors. However, considering the volatile nature of crypto markets, it is important to carefully evaluate investment decisions.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
