Popular Crypto Analyst Bluntz Says This DeFi Altcoin Looks Strong Against the US Dollar and Bitcoin (BTC)

Pseudonymous analyst Bluntz tells his 308,500 followers on the social media platform X that DeFi lending platform Aave (AAVE) is flashing multiple bullish signs on the eight-hour chart.

Cryptocurrency trader and analyst Bluntz has shared his latest technical analysis on Aave (AAVE), suggesting that the DeFi token is displaying bullish signs against both the US dollar and Bitcoin (BTC).

According to Bluntz, AAVE is showing multiple bullish indicators on the eight-hour chart.

“AAVE one of my favorite looking alts here, clear ABC down on the eight-hour chart, clear five waves within the C wave AND a cracking eight-hour bullish divergence brewing.

T1 (tier-one) setup imo.”

The trader’s chart seems to indicate that AAVE is completing an ABC correction with bullish divergence to support his stance on a potential reversal.

A bullish divergence is often viewed as a sign of a trend reversal, as it indicates that an asset’s momentum is rising even though its price is dropping or moving sideways.

Bluntz’s analysis suggests that AAVE could rally as high as $460 in its next leg up, presenting a potential upside of around 56%.

Examining the AAVE/BTC pair, Bluntz notes that it is also displaying a similar setup, suggesting that the coin is preparing to outpace Bitcoin.

“AAVE/BTC also looks identical, with a nice high time frame eight-hour bullish divergence.”

At the time of writing, AAVE/BTC is valued at 0.003034 BTC or $294.۷۱.