Crypto Trader Predicts 80% Rise For Ethereum-based Altcoin, Says One Dogecoin (DOGE) Chart Is ‘Crazy Bullish’
A widely followed analyst expresses bullish sentiment for Dogecoin (DOGE) an Ethereum (ETH)-based decentralized finance (DeFi) protocol amid a rally in crypto-asset prices.
The pseudonymous cryptanalyst known as Smart Contractor says his 211,800 Twitter followers that Dogecoin looks “crazy bullish” when paired with Bitcoin (BTC).
Smart Contractor says Dogecoin on the Bitcoin chart has been showing an inverted head and shoulders (IHS) pattern for almost a year.
“Simply considering putting the rest of my Bitcoin into Dogecoin at least for the next few months.
This DOGE/BTC chart is the most insanely bullish I’ve seen in a long time.
Almost a year-long IHS outbreak that hardly anyone is talking about.”
Dogecoin is trading at $0.075 at the time of writing.
Earlier this week, Smart Contractor so that Dogecoin is close to breaking out to the upside on the Bitcoin chart.
“DOGE/BTC is so close to breaking a 12-month+ upside head and shoulders [pattern]having tested this trend line five times already.
When it eventually goes, I don’t think it will come back and give people another chance to get in.
It’s one of the best looking altcoin/Bitcoin charts out there in my opinion.”
The cryptoanalyst and trader then look at the DeFi protocol, Aave (AAVE). According to Smart Contractor, Aave could explode by over 78% from today’s level in less than eight weeks.
“I’m stalking AAVE for an entry in the next day or two if I can get some below $76.
I think it has set in a significantly higher low on [the] daily [time frame] and will move towards $150+ in the coming month or two.”
Aave trades for $83.65 at the time of writing.
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