15th March 2021
A closely-followed trader and analyst known in the industry as Smart Contracter is saying that three decentralized finance (DeFi) assets are gearing up for explosive breakouts.
In a new tweet, the crypto strategist tells his 111,100 followers that heâ€™s keeping a close watch on lending and borrowing platform Aave as the crypto asset is on the verge of a strong move in its Bitcoin (BTC) and USD pairs.
â€œAave is gagging to break out on both the USD and BTC pairs. Beautiful ascending triangle forming.â€
The second coin on Smart Contracterâ€™s radar is a smart contract platform that allows developers to digitize real-world assets: Avalanche (AVAX). According to the crypto analyst, AVAX is poised to climb over 50% from its current price of $27.
â€œNow, thatâ€™s a bullish candle on AVAX. Today engulfed 2 weeks of price actionâ€¦. next resistance and $41 is inevitable in my opinion.â€
The third coin on Smart Contracterâ€™s list is decentralized exchange SushiSwap (SUSHI), which he says is ready to break out after weeks of consolidation.
â€œMake of it what you will, but Sushi is one of the very few select DeFi alts > $1 billion market cap that doesnâ€™t look like death. USD pair accumulating for 5 weeks just above prior to all-time high. I think blow-off top breakout soon.â€
According to Smart Contracterâ€™s chart, Sushi is primed for a final bullish rally above $28, representing a 40% surge from its current price of $20. After the last leg up, the trader expects Sushi to start a massive correction.
As for Bitcoin, the crypto strategist believes that the leading cryptocurrency is en route to a new all-time high of $73,000 before March is over.
â€œ$1.9 trillion printed send it. Itâ€™s counterintuitive to think it will be this easy but in this environment, with m1 (money supply) going up, BTC goes up.â€