Next to the $SNX, $INJ is probably the second strongest derivatives project.
Still at relatively small market cap of $136 million compared to SNX which is about 1.6 Billion $. Plenty of room to grow.
Backed by Binance and other well known investors, Layer 2 speed, unlimited markets (forex recently added) and zero gas fees.
30D vs. USD - 203%
30D vs. BTC -...
We might see SNX correcting to 0.5 or 0.618 of this bull leg before advancing to $24-35 which is 1.618 to 2.618 fib levels.
In my opinion SNX is primed to be the number 1. DeFi project just because investors can trade derivatives (multi-trillion to unknown overall market value, possibly quadrillion)
Remeber, current DeFi market cap is (ONLY) 33.2 Billion...
AAVE gained 100% in 5 days last week.
It's ready to gain another 100%, in a very short time period. Most probably next week.
For me, mid-term target is at least $1000 where I might start taking some profits.
Not a trading advice.
Ethereum is attempting to break out of descending trend vs. Bitcoin which started in 2018.
If successful, I can see Ethereum going to 10% of Bitcoin value in the Q1 of 2022, while at the same time I think that $100,000 BTC by the end of 2021 is very conservative view - IF bullish sentiment continues.
Then we could see ETH at least 10,000 - My personal opinion...
I'm looking at bullish cross between 50 and 200MA with descending wedge top trend line cross as a confirmation to 30% gains to 45000 levels.
Falling below 30k would invalidate the idea = bear market.
Not investment advice.
The current formation looks very much like the 2017/2018 crash and the dot com bubble crash as well.
There is no safe zone really at the moment since I think BTC is going to range in a descending triangle and will retest 30K support 2 or 3 more times.
For me, if it breaks below 30k levels, it's a clear sign that the possibility of a bear market starting is...
I will have audacity to predict ETH in the next near term.
1. Elliot Wave no. 5 - Retest $1300 - $1350
2. Elliot Wave A - Retrace to $1100 - $1250
3. Elliot Wave B - Retest $1200 - $1250
4. Elliot Wave C - Retrace to $1000 - 1100
Possible descending triangle forming.
We see that on a 4h timeframe, ADA is about to form double top pattern after which we'll be looking at support levels $0.20 - $0.24 to buy again.
If my other 2 ideas play out as I think they most likely will:
Unsustainable 500 Billion Growth in Only 2 Weeks -
500 Billion growth in about 2 weeks. Does it sound sustainable?
I think not.
This crazy growth needs to be corrected before continuing up.
I think this aligns perfectly with my other chart -
Expect a correction mainly from BTC which will pull ETH and other main alts together with it...
Last 2 top-of-the-channel shorts were on Sundays. I presume one of the reasons is because institutions are not buying on Sundays or weekends.
I would be looking for reversal at top of the channel and taking profit at 200 MA if you're shorting or buying back at 32-36k levels. This would be perfect accumulation before continuing to well above $40,000.
The probability this will play out exactly as I think it will is around 5%. Probably even less.
But there's always a chance.
0.44 is strong support with ascending bottom trend line. If that holds, we have 2 triangles coming our way (respecting both top and bottom trend lines) which will 'squeeze out the prices'.
1st resistance after squeeze 1 is 0.6 + top...
This is going to be interesting. Current price action is driven by SEC suing Ripple while the XRP is in the major bullish descending triangle.
If the 0.44 holds it could bounce back up. If not, it's going down, down, down, down...
Hi everyone, just wanted to share my insights into AAVEUSD. This is not trading advice.
I'm long and holding it since I think this asset is going to explode.
Expecting $1000-$1500 in the next 12-28 months.