Trader Says DeFi Altcoin Aave Witnessing Clear Trend Switch, Updates Forecast on Two Low-Cap Coins

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Daily Hodl2024/10/20 16:00

By:by Daily Hodl Staff

Widely followed crypto analyst Michaël van de Poppe says that AAVE , the native token of the top lending platform on Ethereum ( ETH ), is set for bluer skies.

According to Van de Poppe, AAVE is in the midst of a trend shift after its clear break of the $150 mark, which he says opens up the doors to the $250 level.

“This one is a must to have in the portfolio, as I think it will outperform once DeFi picks up momentum.

Clear trend switch.

Staying above $110-$120 should lead towards a new push, having a target at $250.”

Source: Michaël van de Poppe/X

At time of writing, AAVE is trading at $159.

The trader is also looking at the decentralized credit marketplace Clearpool ( CPOOL ), a smaller project with a $114 million market cap.

CPOOL is currently down 93% from its all-time high of $2.55, and Van de Poppe is looking at around the 2024 highs as an initial price target.

“Starting up a new cycle.

The previous peak was at $0.35 and had a deep correction since.

Took the liquidity and reversing, through which LTF/HTF (low time frame/high time frame) dips are the ones to buy.

Target is: $0.35 in the coming months.”

Trader Says DeFi Altcoin Aave Witnessing Clear Trend Switch, Updates Forecast on Two Low-Cap Coins image 1

Source: Michaël van de Poppe/X

At time of writing, CPOOL is trading for $0.167.

Lastly, Van de Poppe is looking at the blockchain oracle platform DIA , which he says is in a clear bullish reversal. According to the analyst, DIA bulls can look for a correction back to the $0.50 level or a clean breakout at $1.20.

“This one is going for it.

I’m looking for a deeper, HTF correction (if it happens).

If we do have a breakout, then I’m planning on LTF areas for a potential entry towards the next target.

Clearly reversing the trend.”

Trader Says DeFi Altcoin Aave Witnessing Clear Trend Switch, Updates Forecast on Two Low-Cap Coins image 2

Source: Michaël van de Poppe/X

At time of writing, DIA is trading at $1.14.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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