Nicholas Merten, in a new publication, said that although Bitcoin (BTC) seems a bit stagnant, the money has not completely exited the market, but instead shifted to altcoin projects. What else does the analyst, who thinks the decentralized finance (DeFi) sector in particular, may experience a rise? cryptocoin.com We are giving the details as…
Nicholas Merten conveyed altcoin comments
First on the analyst’s radar for 2022 is Uniswap (UNI). Merten analyzes this altcoin by looking at the Bitcoin pair. He stated that UNI is currently back to where it was against Bitcoin in October 2021, and this descending resistance line finds support with the mid support range. At this point, the analyst states that the price has started to move towards the resistance point and is preparing to go higher by reversing its losses. At the time of writing, UNI is trading at $18.35, down 3.6 percent.
Also, DataDash server takes care of decentralized finance (DeFi) platform Aave (AAVE). AAVE is making some serious moves, up nearly 70 percent in the past few weeks, according to Merten. The analyst states that we have come to this point from about 346,000 satoshis, currently increasing to 600,000 satoshis. For AAVE, some of its major breaks against Bitcoin are making up for months of losses, bringing it back to levels not seen since October of 2021. According to the analyst, this indicates a new breakthrough for the cryptocurrency industry. At the time of writing, AAVE is changing hands at $263.5, down 7.31 percent.
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