A popular analyst predicts a strong uptrend for Ethereum and Aave.

Known in the industry by the smart contracter nickname, the person told his 176,000 Twitter followers that the ETH / BTC pair will continue to move up after breaking over a large head-shoulders-head-shoulders (IHS) pattern is.

“ETH / BTC has broken out over the three-year IHS pattern. It may have been a little boring the last few months, but make no mistake about it. It accumulates in a big upward trend. ”

An inverse head and shoulders pattern is a bullish pattern that marks the beginning of a new uptrend. According to the smart contracter chart, ETH / BTC is currently consolidating in a continuation pattern and can go up to 0.12 BTC, valued at $ 7,287 at press time.

The source: Smart Contracter / Twitter

Looking at the leading smart contract platform’s USD pair, the analyst said that ETH is currently on track to hit USD 5,000 after breaking a descending resistance line.

“I think the ETH will break out soon and meet a new ATH.”

The source: Smart Contracter / Twitter

Next up is the Aave Credit Protocol (AAVE), which the analyst believes will spark an epic rally after hitting higher bottom in an uptrend.

“Aave has made a higher ground here. With blue chips moving like CRV, I’m assuming other blue chips have hit rock bottom too. [Mùa DeFi] is approaching and Aave is one of my favorite coins. ”

The source: Smart Contracter / Twitter

The analyst uses Elliott Wave Theory, a technical analysis method that predicts future price movements by tracking the sentiment of market participants across each wave. According to the smart contracter’s chart, AAVE can rebound near $ 900 before concluding its five-wave bullish impulse.

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According to Dailyhodl

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