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Top DeFi Tokens Losing Value: YFI 11%, LEND 6%, OMG 5%. Good Opportunity to Buy?

Author: Dare Shonubi

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

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  • YFI leads losses with 11%

  • Lend starts off the week with moderate loss

  • OMG joins top losers with mild 5% loss.

Amid massive losses recorded within a plunging total crypto market capitalization in the last day, many altcoins are taking the brunt of the market forces. In the last 24 hours, YFI is seen to have led a moderate market plunge with an 11% loss. LEND and OMG, however, are nurturing the common touch with little fewer percentage losses too.

This version of market watch sheds light on the top market losers of the past 24 hours for investors to consider before diving into investing in their desired cryptocurrencies.

#1. (YFI tokens 11% Loss):

YFI chart

YFI have quite repulsive market traction within the last 24 hours. Within the last 24 hours, the coin lost around 11% to maintain a week-long market loss which accumulated to 8%.

At the time of writing this piece, YFI is changing hands at $26,067, which is about a 36% negative change in the biweekly time frame.

The coin failed the support at $26,500 level and sank through the immediate support at $26,100. Before midday, FYI tested the price level at $26,200, but failed to break the level properly and fell below to build strong support at $26,000.

Within the last 30 days, FYI lost around 28% to record the most loss amongst the top loser cryptocurrencies of the ongoing bear markets.

Technical Points:

  • General price trend is bearish.
  • Next level of key support lies at $26,000
  • Immediate resistance level lies at $26,500

#2. Aave (LEND 6% Loss):

LEND chart

LEND begins weekly loss with today’s percentages. Taking a top spot in this category of top losers on today’s list, the coin lost almost 10% within the last two days.

LEND accomplished lustrously within the last year with a 12,093% profit. The coin made losses last month with 34% and has gained around 1% in the last one week. The cryptocurrency is down by around 6% in the last 24 hours.

Currently changing hands at $0.52, it occurs the market sentiment is bullish in the short term. 80% of market respondents are bullish while 20% remain bearish on LEND.

Technical Indicators

LEND/USD glares bullish with prices soaring above the lid of the Bollinger Band. There’s an evident price increase above the Bollinger top where prices may head to the $0.65 level.

  • Next major resistance lies at $0.65
  • Next key support level at $0.52
  • RSI penetrated the 70.0 level and further move upwards seems highly possible.

#3. OMG Network (OMG 5% Loss):

OMG chart

OMG made losses consistently within the week but accrued significantly enough to make today’s list.

Around 50% of market respondents are bearish on OMG and it seems the top coin is moving to accepting more losses in the future.

During the last year, OMG gained roughly 393% and has recorded gains in all other time frames but the 24 hours and 30-day. It recorded a 29% loss since last month and lost 5% since yesterday.

The prevailing price of OMG is $3.91 with an average market cap of roughly 547 million. Also, over $450 million of volumes were recorded since yesterday.

Technical Points

  • Next key resistance level lies at $4.0
  • Next major support level at $3.65
  • Prices may have troubles breaking the present price level at $3.65
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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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