A closely watched crypto trader known in the industry as a smart contractor is predicting giant rallies for two altcoins in decentralized finance (Defi).
A trader under his pseudonym informs his 158,500 Twitter followers that AAVE’s decentralized lending and borrowing protocol is one of the sub-codes that could potentially grow in the coming months.
The smart contract says it is looking for an AAVE linked to Ethereum (aave/ETH) as an indicator of what the asset can do in the USD pair.
“When we look at the USD pair when AAVE / ETH drops 50% daily from this big bull flag, the USD pair is probably already in the 3 wave towards an all-time high.”
Source: smart contract / Twitter
The trader relies on Elliott Wave Theory, a technical analysis approach that aims to predict price movement by tracking the psychology of the crowd emerging in the waves. AAVE will raise its five-year growth to a new record high of around $ 700 in November, according to the trader’s schedule.
At the time of writing, Aave is trading at $ 411, according to CoinGecko.
The trader also took a look at automated market maker Sushiswap (sushi). According to Smart Samentrekker, SUSHI correctly converted its technical resistance to support and was eventually able to move away from the pattern to reach new heights.
“Sushi makes clear SR blows [from support to resistance] completely upward, but I suspect there will soon be a moment when it will break and start marking well, and SR blows will be a thing of the past.”
Source: smart contract / Twitter
Cryptotrader also monitors sushiswap’s connection to bitcoin (sushi / BTC). Under the smart contract, SUSHI / BTC is poised to contest the 2021 high at about $ 0.000522, which was $ 24.71 at the time of writing.
“Imagine a perfect stream of jumps and rises that will repeat the malfunction. I think sushi is about to melt their faces.”
Source: smart contract / Twitter
In the middle of the SUSHI / BTC third wave rally, wh
