A widely followed analyst and trader is leaning bullish on an altcoin in the Ethereum (ETH) ecosystem while updating his outlook on three crypto assets.
The trader pseudonymously known as Sherpa tells his 223,200 followers on the social media platform X that Aave (AAVE) is “still undeniably very strong” as the Ethereum-based decentralized finance (DeFi) lending platform rests below a major resistance level on the weekly time frame after a consolidation phase that has lasted years.
“This thing chopped for 2+ years, it looks ready.”
AAVE is trading at $147 at time of writing, up by around 54% over the past 30 days.
Next up is Solana (SOL). According to the widely followed trader, Solana is in the process of bottoming out on the daily time frame.
“I think that this grinds up from here. Not a bad swing trade as long as Bitcoin stays friendly.”
Solana is trading at $134 at time of writing.
Turning to the native token of the BNB Chain, Sherpa says he is bullish on the fourth-largest crypto asset by market cap as it sits below a major resistance level at around the $612 price.
“BNB the king is coming home soon, expecting this to continually grind up.”
BNB is trading at $543 at time of writing.
Next up is the utility token of the layer-1 blockchain Sui (SUI). According to Sherpa, SUI on the four-hour chart is “still very strong” and could break out very soon above the resistance level at around the $1 price.
SUI is trading at $1.03 at time of writing, around 26% over the past seven days.
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The post Crypto Trader Says Ethereum-Based Altcoin Undeniably Very Strong, Updates Outlook on Solana, BNB and Sui appeared first on The Daily Hodl.