TL;DR
- Altcoin trader Sherpa sees Aave (AAVE) as a very strong altcoin, after consolidating for over two years.
- Solana (SOL) is in the process of bottoming out, and Sherpa expects its value to rise if Bitcoin remains stable.
- Sherpa is bullish on Binance Coin (BNB) and Sui (SUI), both showing signs of growth in the near term.
Well-known analyst and trader, under the pseudonym Altcoin Sherpa, has shared his optimistic view on several assets in the cryptocurrency ecosystem.
In a series of recent posts, Sherpa highlighted that Aave (AAVE), an Ethereum-based project focused on decentralized finance (DeFi), has been showing a positive trend after more than two years of consolidation.
$AAVE still undeniably v strong but this is not the area to buy imo. Wick high + 200 W EMA. Would look for a minor dip at $135 to buy OR I would buy this a bit higher. This thing chopped for 2+ years, it looks ready pic.twitter.com/jvI1HtRJHA
— Altcoin Sherpa (@AltcoinSherpa) September 12, 2024
According to the trader, AAVE is at an important resistance point on the weekly time frame, and he suggests waiting for a minor correction around $135 before buying.
AAVE, currently trading at $147, has increased by approximately 54% over the past month, reinforcing the idea that this asset is poised for a significant move.
As for Solana (SOL), Sherpa argues that the cryptocurrency is near its lowest point on the daily time frame.
Although there has been some volatility in the market, the analyst is optimistic that SOL could start to rise if Bitcoin, the main benchmark of the crypto market, continues to show stability.
Solana is currently trading at $134, and Sherpa believes it is a good opportunity for a medium-term trade, as long as market conditions are favorable.
On the other hand, Binance Coin (BNB), the native token of the BNB chain, is trading just below a key resistance level at $612.
Sherpa believes that the token has a promising future and will continue to rise gradually in the coming weeks.
At the time of writing, BNB is trading at $543, and the analyst considers it one of the strongest assets in the crypto market today, describing it as “the king coming home.”
Sui (SUI), the token of the layer-1 blockchain, was also mentioned by Sherpa.
According to his analysis, SUI is still very strong on the 4-hour chart and could soon break through the resistance around $1.
Currently trading at $1.03, SUI has seen a 26% increase in the past seven days, reinforcing the expectation of a possible bullish breakout in the near term.
Sherpa Future Perspective
According to Altcoin Sherpa, these assets present a positive outlook for traders, although he stresses the importance of waiting for correction moments or key points before making purchasing decisions.
In particular, his analysis on AAVE suggests caution, recommending not to enter the market immediately, but to wait for a correction around $135.
Similarly, he sees Solana as a “swing trade” opportunity, anticipating that it could start to rise as the overall cryptocurrency market stabilizes.
As for BNB, Sherpa sees the asset continuing its gradual ascent, approaching its all-time high again, while Sui, an emerging asset, could see a significant breakout in its price in the short term if it manages to break above the dollar barrier.
The trader’s overview highlights that while the market remains volatile, there are clear opportunities in certain assets as long as attention is paid to technical levels and broader market behavior.
