Closely followed crypto currency analyst Nicholas Merten shared his views on the potential trajectory of four altcoins during the market-wide rally. The analyst explained that he expects all four evaluated altcoins to experience a strong rise.
Threefold Return Forecast for XLM
In his crypto-focused YouTube channel DataDash, Merten provided a general assessment for altcoins on his watchlist, sharing his predictions for Stellar (XLM), Aave (AAVE), Compound (COMP), and Uniswap (UNI), indicating they offer potential opportunities for investors. Starting his analysis with Stellar’s XLM, Merten mentioned that the payment-focused Blockchain network is currently trading in a “typical discount range” compared to its competitor XRP. He suggested that XLM could gain about 200% in value against Bitcoin (XLM/BTC), potentially offering investors a threefold return opportunity from 0.00000200 BTC to 0.00000600 BTC.
“Oversold” Commentary for 3 DeFi Altcoins
Following his XLM assessment, Merten moved on to the decentralized finance (DeFi) sector, noting that leading members of the DeFi world, Aave (AAVE), Compound (COMP), and Uniswap (UNI) are currently oversold. Regarding Aave, Merten mentioned that the protocol is showing a positive trend against the US dollar and has more upside potential.
Commenting on Compound’s COMP, Merten pointed out that despite trading below its previous high levels from May 2021, it has strong momentum and a solid foundation. Similarly, the analyst highlighted Uniswap’s UNI as another strong asset in the DeFi sector.
The analyst believes that ETH’s upward trend acts as a catalyst for Uniswap and other DeFi altcoins built on the Ethereum Blockchain, potentially leading to a continued increase in their prices.
Merten’s bullish predictions for the leading four altcoins come amidst Ethereum’s notable rising trend. At the time this article was prepared, ETH was trading below $3,900. Data shows that the altcoin king has risen over 65% since the beginning of the year.
