These four crypto assets are preparing for new all-time highs, says top analyst

The experienced crypto trader and analyst smart contracter calls for new all-time highs (ATH) for four crypto assets in the emerging DeFi area (decentralized finance).

In the midst of a steep and extensive crypto correction, smart contracter is still optimistic about the Aave credit and credit protocol, the automated market maker SushiSwap (SUSHI) and the Layer 2 Ethereum scaling network Polygon (MATIC).

Smart Contracter Notes that the success of the assets depends on Bitcoin being able to consolidate in a neutral zone after falling to nearly $ 30,000 this week.

Once traders stop selling the Bitcoin pumps and start reliably buying back in the flagship cryptocurrency, the three DeFi assets could go up.

“As soon as BTC starts bidding, pretty much all DeFi majors will hit an all-time high in my opinion, starting with AAVE and SUSHI not far behind and of course MATIC, which still doesn’t give a single f ***. “

All three assets have since fallen victim to the market-wide correction, with Aave down 34% in the past seven days. SUSHI lost 34.7% of its value and MATIC fell 23% over the same period.

The other altcoin smart contracter looking to hit new highs is the Theta Network (THETA) decentralized video delivery protocol, which unlike many other assets has increased 6% in the past 24 hours.

“75% dump on THETA peak to bottom, V recovery in progress. What if this was an ABC that corrects those 5 and we shoot straight to an all-time high from here?

Doesn’t feel intuitive, but it definitely looks pretty good down here, am long … for now. “

Source: Smart Contract

THETA price is roughly half of its all-time high of $ 15.72 at the time of writing and is now at $ 6.85 after being corrected to the $ 5 area this week.

The trader relies on Elliott wave theory, which predicts future price movements by following the psychology of market participants, which manifests itself in waves.

Looking at Bitcoin, the analyst notes that Bitcoin shows the first signs of strength when it tries to press a higher low.

“In my opinion, BTC is trying very hard to hit a low here. For four days in a row, the daily candle body closes, hitting around $ 37,000.

Whether a big low or a short-term low is still controversial. “

Source: Smart Contract

On Ethereum, smart contracter says the second largest crypto asset needs to bounce solidly from the $ 2,300 level to avoid falling further during this slump.

“ETH is 0.618 [Fibonacci retracement level] this liquidation candle from 12 hours ago. If it’s going to ricochet, I think it has to be from here. “

Source: Smart Contract

Currently, ETH rests at exactly this level and is between $ 2,300 and $ 2,400.

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Featured image: Shutterstock / pjcross / Vladimir Sazonov

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