{"id":30123,"date":"2025-01-16T02:29:55","date_gmt":"2025-01-16T02:29:55","guid":{"rendered":"https:\/\/peraltafinancing.com\/altcoin\/defi-altcoin-flashing-tier-one-setup-and-could-ignite-56-rally-according-to-crypto-strategist\/"},"modified":"2025-01-16T02:29:55","modified_gmt":"2025-01-16T02:29:55","slug":"defi-altcoin-flashing-tier-one-setup-and-could-ignite-56-rally-according-to-crypto-strategist","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=30123","title":{"rendered":"DeFi Altcoin Flashing Tier-One Setup and Could Ignite 56% Rally, According to Crypto Strategist"},"content":{"rendered":"


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A popular crypto strategist thinks an altcoin in the decentralized finance (DeFi) space looks strong against the US dollar and Bitcoin (BTC<\/a>).<\/p>\n

Pseudonymous analyst Bluntz tells<\/a> his 308,500 followers on the social media platform X that DeFi lending platform Aave (AAVE<\/a>) is flashing multiple bullish signs on the eight-hour chart.<\/p>\n

\u201cAAVE [is] one of my favorite looking alts here, clear ABC down on the eight-hour chart, clear five waves within the C wave AND a cracking eight-hour bullish divergence brewing.<\/em><\/p>\n

T1 (tier-one) setup in my opinion.\u201d\u00a0<\/em><\/p>\n

\"Image\"
Source: Bluntz\/X<\/figcaption><\/figure>\n

Bluntz follows the Elliott Wave theory, which states that a bullish asset tends to witness a five-wave surge after completing an ABC correction. Based on the trader\u2019s chart, he seems to suggest that AAVE has completed the ABC retracement with a bullish divergence to support his stance on a potential reversal.<\/p>\n

A bullish divergence is typically viewed as a reversal signal as it indicates that an asset\u2019s momentum is rising even though its price is dropping or trading sideways.<\/p>\n

Bluntz seems to predict that AAVE will soar as high as $460 for the next leg up, a potential upside of about 56%.<\/p>\n

Looking at AAVE\/BTC, Bluntz says<\/a> the pair is also flashing a similar setup, suggesting that the coin is gearing up to outperform Bitcoin.<\/p>\n

\u201cAAVE\/BTC also looks identical, with a nice high time frame eight-hour bullish divergence.\u201d\u00a0<\/em><\/p>\n

\"Image\"
Source: Bluntz\/X<\/figcaption><\/figure>\n

At time of writing, AAVE\/BTC is trading for 0.003034 BTC worth $294.71.<\/p>\n

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