The governance token in a protocol for decentralized lending (DeFi), according to an influential crypto-strategist, is gearing itself up for rallies.
The Crypto Dog, a pseudonymous analyst on social media platform X tells 809 500 followers that he is bullish on Aave.AAVE).
A trader shared a chart which suggested that AAVE had successfully retested $107 level as support.
“Think that’s gonna moon.”
AAVE currently trades at $111.62. It is down slightly from its previous day’s price but has gained over 46% compared to the August 5th lowest point of around $75.
Curve DAO, another DeFi Project (CRV), the analyst says Altcoins are following the Bitcoin (AAVE/BTC).
“Finally, CRV comes to life…
BTC breaks out when it reaches resistance.
Do not use alts who cannot pump BTC.
AAVE now leader. I think CRV soon joins.”
At the time of this writing, CRV was trading at $0.313, up more than 3% from yesterday but still over 70% higher than its low on August 5th when it traded for around $0.18.
Although The Crypto Dog has a bullish outlook on AAVE, he believes that altcoins are more attractive. look The situation is vulnerable.
“About to rebuy alts because if they don’t bounce here, I think they’re going to hades.”
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Source: dailyhodl.com