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    Crypto Trader Predicts Rallies for Tron and Aave, Updates Outlook on Chainlink and Polkadot

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    Crypto Trader Predicts Rallies for Tron and Aave, Updates Outlook on Chainlink and Polkadot

    A widely followed crypto strategist thinks that rallies are in sight for the layer-1 blockchain Tron (TRX) and the decentralized finance (DeFi) lending protocol Aave (AAVE).

    Pseudonymous analyst Rekt Capital tells his 373,000 followers on the social media platform X that TRX ended November on a bullish note after the crypto asset closed above its monthly resistance at $0.10.

    According to the analyst, TRX may see short-term dips to convert previous resistance levels into support before moving toward his upside target.

    “Tron has monthly closed above red, now potentially setting price up for a dipping retest The $0.10 level previously acted as resistance in late 2021 and now may soon be retested as support. Holding here would position TRX for a revisit of $0.13 (red).” 

    Image
    Source: Rekt Capital/X

    At time of writing, TRON is worth $0.103.

    Looking at Aave, Rekt Capital says that the crypto asset looks bullish and is poised to hit his target at $111.

    “Fantastic +20% move after the successful retest. AAVE may have more upside to be enjoyed, to as high as the $111 level above (orange) over time.”

    Image
    Source: Rekt Capital/X

    At time of writing, AAVE is trading for $104.80.

    The trader is also updating his forecast on the decentralized oracle network Chainlink (LINK). Rekt Capital says that Chainlink will likely sustain its uptrend as long as it is trading above $14.00.

    “LINK

    Still holding the bottom of the red box as support.

    Continued price stability here is needed for Chainlink to resume its uptrend.” 

    Image
    Source: Rekt Capital/X

    At time of writing, LINK is worth $16.06, up over 6% in the last 24 hours.

    Looking at the interoperable blockchain Polkadot (DOT), Rekt Capital believes that the altcoin is just beginning its uptrend.

    “Polkadot has officially broken out from its major market structure. Any dips into the top of the pattern, if they occur at all, will likely fully confirm the breakout in a new macro uptrend.” 

    Image
    Source: Rekt Capital/X

    At time of writing, DOT is trading for $5.60, still above Rekt Capital’s diagonal resistance.

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    Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

    Generated Image: Midjourney

    The post Crypto Trader Predicts Rallies for Tron and Aave, Updates Outlook on Chainlink and Polkadot appeared first on The Daily Hodl.

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