NewsPrice Analysis

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

Highlights

    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. 

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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