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A prominent crypto strategist has indicated that Aave (AAVE), a key player in decentralized finance (DeFi), shows strong signals against the US dollar and Bitcoin 
$103,821. The strategist shared insights on social media, highlighting multiple positive indications in AAVE’s eight-hour chart.
Strategist’s Insights
The pseudonymous analyst, Bluntz, expressed to his 308,500 followers that the DeFi lending platform Aave exhibits a clear ABC correction in its eight-hour chart, a distinctive five-wave structure within wave C, and an emerging bullish divergence. These signals suggest a favorable outlook for the altcoin.
“AAVE is one of my favorite altcoins here. In my opinion, it’s a tier-one setup.” – Bluntz
Elliott Wave Theory
Bluntz follows the Elliott Wave Theory, which proposes that a bullish asset will experience a five-wave surge after completing an ABC correction. According to the analyst’s charts, AAVE has completed its ABC pullback, supported by a bullish divergence that could signal a price reversal.
AAVE/BTC Performance
Bluntz also noted that the AAVE/BTC pair displays a similar setup, indicating that the coin is poised to outperform Bitcoin. He stated, “AAVE/BTC also looks good, showing a beautiful high timeframe eight-hour bullish divergence.”
At the time of analysis, the AAVE/BTC pair was trading at 0.003034 BTC, approximately $294.71. Bluntz forecasted that AAVE could potentially rise to $460, indicating a possible increase of around 56%.
These positive signals from Aave in the DeFi space may attract attention from traders. However, given the volatile nature of crypto markets, it’s crucial for investment decisions to be made cautiously.
