dailyhodl.com
A closely followed crypto strategist says he thinks a top-10 altcoin is about to hit a new all-time high while updating his outlook on two decentralized finance (DeFi) tokens.
Pseudonymous analyst Altcoin Sherpa tells his 211,300 followers on the social media platform X that Binance Coin ($BNB), the native asset of the world’s largest crypto exchange platform by volume, could remain in a bullish trend for a while longer.
“$BNB: this one goes to all-time high easily and this was kind of obvious in my opinion. Expecting some sort of small pullback before all-time highs, but I think it breaks it soundly in the next few months.”
Looking at the trader’s weekly chart, he suggests that $BNB could extend the bull run that took off in early 2024 by breaking a key resistance level near $661.70.
$BNB is trading for $590.96 at time of writing, down more than 1% in the last 24 hours. $BNB reached an all-time high of $686.31 on May 10th, 2021.
Next up, the trader says Aave ($AAVE), a lending and borrowing protocol, could have more upside potential as it appears to have broken out of a lengthy trading range of between the lower bound of $45.60 and the upper bound of $112.40.
“$AAVE: there’s still a ton of upside for some of these good DeFi 1.0 coins. That said, I’m not sure if they actually have a bid going forward. Probably a solid coin to just buy and not worry about.”
$AAVE is trading for $137.77 at time of writing, down more than 3% at time of writing.
Lastly, the trader says he is remaining bullish on the native asset of decentralized exchange (DEX) platform Injective ($INJ) after it soared out of its trading range. However, he cautions that $INJ may dip or trade sideways first.
“$INJ, ok looking to buy some dips/consolidation now. Expecting more of a run and hoping its not just a deviation.”
$INJ is trading for $47.88 at time of writing, down slightly in the last 24 hours.
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