As cryptocurrency markets decide up steam, a well-liked dealer just isn’t solely feeling bullish on Ethereum (ETH), Aave (AAVE), and Avalanche (AVAX), however he claims that one altcoin specifically is a simple play for merchants.
Pseudonymous crypto dealer and analyst Smart Contracter shares together with his 161,100 Twitter followers that the sensible contract platform Solana (SOL) is a simple “set and overlook” play that appears able to repeat Bitcoin’s bull run in December 2020, which noticed it double in simply over a month regardless of already being at an all-time excessive.
“$SOL simply going to $200 [in my opinion], in all probability increased.
This actually does really feel like a simple set and overlook long-term play, path of least resistance is up.”
Taking a take a look at ETH, Smart Contracter contends that its month-to-month shut appears a lot stronger than Bitcoin.
“BTC month-to-month shut VS ETH month-to-month shut.
I don’t know fam, ETH [definitely] appears stronger to me.”
Stacked up towards Bitcoin, the dealer notes that ETH signaled a breakout above resistance on its day by day chart, which is usually indicative of additional bullish momentum.
“$ETH/BTC double backside confirmed breakout on immediately’s day by day shut.”
As for decentralized lending platform AAVE, Smart Contracter factors out that it lately broke out of its bearish downtrend, citing the upcoming launch of Arbitrum, a brand new blockchain scaling methodology for Ethereum, as a possible catalyst.
“Aave breaking out, [easy] lengthy [in my opinion], possibly Arbitrum is the catalyst?”
Finally, the dealer highlights the sensible contract platform AVAX. He notes that its $39 worth level is a primary lengthy shopping for alternative, and that all-time highs look like simply across the nook for the crypto asset.
“Prime spot for an $AVAX lengthy in my view, all late longers [will be blown out].
All-time highs nonetheless on the desk”
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