Analyst Says Altcoin Season Has Arrived for One Ethereum Competitor, Predicts Dramatic Reversal for Additional DeFi Altcoin

A popular cryptocurrency expert is bullish on the Fantom (FTM) blockchain and one blue-chip decentralized financing (DeFi) platform.

Beginning with FTM, the pseudonymous cryptocurrency expert Smart Contracter tells his 201,500 Twitter fans that crypto possessions in the Fantom community are rallying.

“It’s Fantom season as far as I’m worried, actually every coin on Fantom is turbo sending out today.”

Fantom is a clever contract-enabled blockchain created for high efficiency, and FTM is presently trading at $2.83.

Successive is DeFi platform Aave (AAVE). Smart Contracter says that AAVE has actually bottomed and anticipates that 2022 will be a much better year than 2021 for DeFi-related crypto possessions.

“Highly think a significant low remains in for AAVE. 2021 was difficult for DeFi as an entire however I believe 2022 is going to be round 2.”

According to the expert’s analysis of the Elliott Wave Theory, AAVE has actually finished the dominant five-wave pattern heading upwards and the three-wave restorative pattern heading downwards. AAVE is now set to continue with the dominant pattern when matched versus Tether (USDT), according to Smart Contracter.

AAVE might likewise surpass Bitcoin (BTC), according to the crypto trader.

Source: SmartContracter/Twitter

Smart Contracter likewise says that the sighting of a bullish pattern on the tech-heavy United States stock index Nasdaq 100 “bodes well” for Bitcoin.

According to the crypto expert and trader, the Nasdaq 100 index has actually formed a bullish ABC pattern on the everyday chart.

The ABC chart pattern includes 3 inflection or pivot points and can either be bullish or bearish. In a bullish ABC pattern, the A inflection point is a low, the B inflection point is a high and the C inflection point is likewise a low.

“Nasdaq looking actually good here for a brand-new all-time high – tidy ABC structure on the everyday chart and turbo bounced on volume into the close.

Likewise believing it bodes well for BTC viewing as it virtually topped when tech did albeit more dramatically.”

Source: SmartContracter/Twitter


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