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Arthur Hayes says ‘ETH szn is here’ – Watch THESE 3 DeFi tokens next!
In a recent tweet, popular crypto investor Arthur Hayes announced the start of “ETH szn”, implying that Ethereum’s (ETH) price movement will have a significant impact on the decentralized finance (DeFi) market. As ETH continues to outperform other cryptocurrencies, it is crucial for investors to stay informed about the latest trends and token performances.
According to Artemis Sector Performance metric, which tracks fully diluted market capitalization changes within each sector, Ethereum’s growth has had a direct correlation with DeFi activity over the past seven days. ETH grew by 14.2%, while the broader DeFi sector saw an increase of 10.6%. This convergence could be seen as a sign that any potential downturn in ETH may have a cascading effect on DeFi tokens.
Hayes’ claim about ‘ETH szn’ is not unfounded. By analyzing top-performing DeFi assets over the past 90 days based on the Altseason Index, we’ve identified three standout tokens that could benefit from this potential rally: Hyperliquid [HYPE], DeepBook Protocol [DEEP], and Aerodrome Finance [AERO].
Among these tokens, Hyperliquid has consistently demonstrated bullish momentum. TradingView data suggests a short-term decline to its support zone at $42.628 may occur before attempting to break past previous highs.
DeepBook Protocol, on the other hand, is displaying a familiar fractal pattern. Historical analysis indicates that it first faced rejection at a key Fibonacci resistance level ($0.20569) and then continued its upward trajectory. A similar pattern could be playing out once again, with DEEP potentially retracing briefly before breaking above resistance to target $0.255.
Aerodrome Finance, although still bullish, may experience a brief dip before consolidating and potentially taking off in the short-term future. The token may retrace to its middle band (black line), where it could attract new buyers and trigger a buy-the-dip phenomenon.
As DeFi tokens continue their upward trajectory, it is essential for investors to keep an eye on these emerging trends. As always, due diligence and thorough research should be taken before investing in any cryptocurrency or token.
Source: ambcrypto.com
