A closely watched crypto strategist says he thinks a top-10 altcoin is about to hit a new all-time high, as he updates his views on two decentralized finance (DeFi) tokens.
Pseudonymous analyst Altcoin Sherpa tells According to its 211,300 followers on social media platform
“BNB: This one easily goes to the all-time high and this was pretty obvious in my opinion. I expect some kind of small pullback before the record highs, but I think it will be broken in a healthy way in the coming months.”
Looking at the trader’s weekly chart, he suggests that BNB could extend the bull run that started in early 2024 by breaking a key resistance level around $661.70.
BNB is trading at $590.96 at the time of writing, down more than 1% in the last 24 hours. BNB hit an all-time high of $686.31 on May 10, 2021.
Next, the trader says that Aave (AAVE), a lending and borrowing protocol, could have more upside potential as it appears to have broke out of a long trading range between the lower limit of $45.60 and the upper limit of $112.40.
“AAVE: There is still a lot of upside for some of these good DeFi 1.0 coins. That said, I’m not sure if they actually made an offer in the future. Probably a solid coin to just buy and not worry about.”
AAVE is trading at $137.77 at the time of writing, down over 3% at the time of writing.
Finally the trader says yes other optimistic about the native assets of decentralized exchange platform Injective (INJ), after it rose from its trading range. However, he warns that INJ may fall or trade sideways first.
“INJ, okay, I want to buy some dips/consolidation now. I expect more from a run and hope it’s not just an aberration.
INJ is trading at $47.88 at the time of writing, down slightly in the last 24 hours.
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