A closely followed crypto analyst believes that one Ethereum (ETH) restacking protocol is starting to look extremely bullish.
Pseudonymous analyst Altcoin Sherpa tells his 226,300 followers on the social media platform X that Eigenlayer (EIGEN) may continue to surge for several factors.
“One coin/trade I haven’t seen on the timeline at all is EIGEN.
- ETH season probably coming.
- Hot new coin with former insane hype and current underpriced fully diluted valuation (current = $5.5 billion) compared to before.
- New tech.
- Everything’s up a lot but this looks exceptionally strong.”
Looking at his chart, the analyst suggests that EIGEN is printing a bullish pattern of higher high and higher low prices on the 12-hour timeframe.
EIGEN is trading for $3.15 at time of writing, up 7.6% in the last 24 hours.
Next up, the analyst says that AAVE, the native token of a top lending platform on Ethereum, might be in an uptrend after breaking through resistance at the $170 level.
“AAVE still one to focus on. I’m bidding and already filled some. This has a lot of room to run if DeFi is going to truly run.”
AAVE is trading for $181 at time of writing, up more than 4.3% in the last 24 hours.
Lastly, the analyst suggests memecoin Pepe (PEPE) may be gearing up to have another run to the upside if it can break out of resistance at the $0.00001084 level.
“PEPE is going to full send eventually. I still think higher cap memes are good bets.”
Pepe is trading for $0.00001067 at time of writing, up 7.5% in the last 24 hours.
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The post Analyst Says Low-Cap Ethereum-Based Altcoin Is Looking Exceptionally Strong, Updates Outlook on Aave and Pepe appeared first on The Daily Hodl.