NewsPrice Analysis

Top Defi Tokens Losing value : AMPL 21%, EGLD 11%, BAND 6.81%


    AMPL takes a bow, losses 21% in a day

    EGLD breaks silence with 11% loss

    BAND losses 7% as its market emotions swing bearish.

Some Defi markets swung bearish in the past 24 hours. While AMPL leads the downfall, EGLD breaks a 2-week silence resulting from sideways trading. Also taking a dive (head first) this morning, BAND looks bearish in the shorter timeframes. 

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While the Defi markets battle losses, BTC and ETH are gracing the effect by recording corresponding losses as well. BTC battles the stubborn $10,000 arena while ETH battles the $350 level. 

#1. Ampleforth (AMPL 21.45% Loss):

AMPL chart today

 AMPL obtains the first spot amidst this wave of market losers with 21.45% loss

AMPL is instantly changing hands at $0.711 as the market capitalization sinks to $199 million. The coin’s exchange volume in the last 24 hours is approximately $55 million.

Technical Points

AMPL halted at the resistance level at $1.2 to crash below a couple of support levels. Eventually, the coin dropped all the way to $0.88 with a 21% loss

Below this level, the additional level of key support  lies at $0.80 where prices have assessed and declined in the past.

  • Next major resistance #1.2
  • Next major support at $0.80
  • RSI approaching overbought condition at 70.0.

Also Read : Ampleforth (AMPL) Price Prediction 2020: Can AMPL Price Reach $10?

#2. Elrond (EGLD 10.9% Loss): 

Elrond price chart

Second on today’s top Defi losers is EGLD. The token is lost around 11% within the last 24 hours as weekly losses hover around 21%.

EGLD has a good market belief as 82% of respondents go bullish on Elrond. 

Elrond’s price consistently dropped from the $15.5 area down to around $13.5 early today. Major support lies at $14.5 level. Below this price line, the next level of key support is found at the $13.0 area. 

ELGD is currently trading at $13.8 as its market capitalization stems at $189 million. 

Technical Points:

  • Next major support at $13.0
  • Next major resistance at $14.5
  • Prevailing trend is a downtrend on the lower timeframes. 

#3. Band Protocol (BAND 6.18% Loss): 

band trading view

BAND makes the third position on our top losers’ list. The coin is down by around 6% in the last one day.

Around 35% of respondents are bearish on BAND and the coin gears up for some more losses in the short-term.

The price record is unimpressive. Starting from the one month longer term of 30% loss, BAND has drowned by roughly 20% within the last week. Accordingly, there has been around 1% loss since the last hour.

The current price of the BAND is $8.8 as the coin continues to document a higher market cap at around $179 million.

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Dare Shonubi

Certified cryptocurrency expert and Blockchain journalist covering crypto market analysis and general Blockchain adoption and development.

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