Two popular cryptocurrency technical analysts are predicting rallies for some decentralized finance (DeFi)-based cryptocurrencies even as Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) grab the limelight.
The Coins: Popular crypto analyst Michaël van de Poppe said on Twitter that one of the DeFi coins that he sees continuing to trend higher is Curve DAO Token (CRYPTO: CRV).
#DeFi is still ready for continuation upwards.
— Michaël van de Poppe (@CryptoMichNL) October 4, 2021
Pseudonymous cryptoanalyst Altcoin Sherpa told his more than 130,000 followers on Twitter that he thinks DeFi token Avalanche (CRYPTO: AVAX) could be poised to rally.
See Also: How To Buy Avalanche (AVAX)
Altcoin Sherpa said that while he took some profits when Avalanche touched $70, he still holds a large holding of the token and anticipates it to surge as non fungible tokens (NFTs) are “doing well.”
$AVAX: I still have a large bag of this; I took some profits at $70 but have mostly chilled in it the last few weeks. Playing some coins on the #AVAX ecosystem but thats about it. With NFTs doing well, I think L1s have 1 more leg to come. pic.twitter.com/q8UECtShwE
— Altcoin Sherpa (@AltcoinSherpa) October 3, 2021
Performance So Far: AVAX, the native token of the Avalanche blockchain, is now the thirteenth largest cryptocurrency in terms of market capitalization. The token’s year-to-date gains are an impressive 1,692.3%, but the cryptocurrency is down 17.4% from its all-time high of $79.52 reached in late September.
Curve Dao’s year-to-date gains are about 360.8%. The altcoin is down 95.2% from its all-time high of $60.50 reached in August last year.
Curve DAO Token is down 0.6% during the last 24 hours, trading at $2.85 at press time, while Avalanche is down almost 2.3% during the last 24 hours to $65.59.
Photo: Courtesy of Jernej Furman on Flickr