A closely-followed trader and analyst known in the industry as Smart Contracter is saying that three decentralized finance (DeFi) assets are gearing up for explosive breakouts.
In a new tweet, the crypto strategist tells his 111,100 followers that he’s keeping a close watch on lending and borrowing platform Aave as the crypto asset is on the verge of a strong move in its Bitcoin (BTC) and USD pairs.
“Aave is gagging to break out on both the USD and BTC pairs. Beautiful ascending triangle forming.”
The second coin on Smart Contracter’s radar is a smart contract platform that allows developers to digitize real-world assets: Avalanche (AVAX). According to the crypto analyst, AVAX is poised to climb over 50% from its current price of $27.
“Now, that’s a bullish candle on AVAX. Today engulfed 2 weeks of price action…. next resistance and $41 is inevitable in my opinion.”
The third coin on Smart Contracter’s list is decentralized exchange SushiSwap (SUSHI), which he says is ready to break out after weeks of consolidation.
“Make of it what you will, but Sushi is one of the very few select DeFi alts > $1 billion market cap that doesn’t look like death. USD pair accumulating for 5 weeks just above prior to all-time high. I think blow-off top breakout soon.”
According to Smart Contracter’s chart, Sushi is primed for a final bullish rally above $28, representing a 40% surge from its current price of $20. After the last leg up, the trader expects Sushi to start a massive correction.
As for Bitcoin, the crypto strategist believes that the leading cryptocurrency is en route to a new all-time high of $73,000 before March is over.
“$1.9 trillion printed send it. It’s counterintuitive to think it will be this easy but in this environment, with m1 (money supply) going up, BTC goes up.”Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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