The recent activity in the cryptocurrency market continues to attract the attention of analysts and investors. Particularly the interest in DeFi tokens and the analysis on the potential value increases of these tokens help understand the dynamics in the market. In this context, popular analyst Altcoin Sherpa attracted attention especially with his evaluations on Binance Coin (BNB).
The point that Altcoin Sherpa particularly emphasizes is his positive views on the future of Binance Coin (BNB). According to the analyst, it is clear that BNB is hurtling towards new all-time highs. being observed. Evaluating the recent upward trend of BNB, Altcoin Sherpa believes that this trend will continue. Focusing specifically on the weekly chart, the analyst suggests that BNB could continue the bull run that started in early 2024, breaking key resistance levels around $661.70.
“BNB: This is easily moving towards a new all-time high and I think that’s very clear. “I expect a small pullback before all-time highs, but I think it will break out strongly in the next few months.”
Another altcoin on the analyst’s radar is Aave (AAVE). The analyst says AAVE may have further upside potential as it appears to have broken out of the long trading range between $45.60 and $112.40.
$AAVE: There’s still a ton of upside for some of these good DeFi 1.0 coins. That said, I’m not sure if they actually have a bid going forward. Probably a solid coin to just buy and not worry about. pic.twitter.com/r1OwHGERGJ
NEWS CONTINUES BELOW— Altcoin Sherpa (@AltcoinSherpa) March 13, 2024
Finally, the analyst said that the native token of decentralized exchange (DEX) platform Injective (INJ) continued its rise after breaking out of its trading range. But he warned that INJ may fall first or move sideways.
“INJ, I’m thinking of buying some dips/consolidation right now. “I expect more rallies and hope this is not just an aberration.”
As a result, it is clear that Altcoin Sherpa has a positive view on altcoins. However, it is important for investors to always be careful and make decisions by doing their own research. Volatility and uncertainties in the market should be taken into consideration and investment decisions should be made carefully.
You can follow the current price movement here.
