InvestAnswers: Extremely Dropped! This DeFi Altcoin Could Rise!

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The popular cryptocurrency analyst, who appeals to half a million followers, pointed to this extremely falling DeFi altcoin. The Terra UST collapse caused DeFi platforms to lose even more serious blood. However, according to the analyst, the return is now close and from its current levels, this altcoin will offer investors a serious income opportunity. Of course, this is not certain, and it would be in your best interest to create your investment strategy as a result of your own research.

AAVE (AAVE)

A popular crypto analyst has shared a DeFi protocol that he believes could rise in value after falling rapidly over the past few weeks. InvestAnswers says the governance token of DeFi lending protocol Aave (AAVE) to its 438,000 YouTube subscribers has dropped to levels not seen since January 2021.

“It’s like someone turned back time and sent us 16 months ago. Priced below the 200-day moving average, AAVE also dropped below the critical $120. It averages $80 and is quite far from the $240 levels it saw a few weeks ago.”

AAVE is priced at $92 at the time of writing. The crypto currency, which is in the 60th place according to the market value, lost its value by about 15% in a short time.

Aave (AAVE) Reviews

The InvestAnswers server said it expects Bitcoin (BTC) to recover first, but expects volatility to increase “for the next month.” The anonymous analyst explains why he still expects a rise in Aave as follows;

“Aave is still the best unattended protocol. I expect many more investors to be interested in it. Its price has dropped drastically and it has become quite cheap”.

According to the analyst, a 3x rally from here is quite possible and we can reach the $240 target in the first period when the markets start to recover. On the other hand, stock markets opened positive today and if it continues like this, Bitcoin may continue to stay above $30,000. The $100 target for AAVE in the coming hours looks technically reasonable. The FED has taken a very tough stance this year to suppress inflation, they will need to loosen it if they don’t want to hurt global markets further. As a matter of fact, many financial institutions say that the dollar is overvalued in its current position and warns the FED.

The Fed continues to give negative interest rates. Although it increases the interest rates more, it is not likely to exceed 8%. Considering that the inflation is over 8% and the perceived inflation is based on 20%, there are enough reasons for him to cut his feet off the gas a little.