Defi Tokens Resume Uptrend – ERD Gains 17%, AMPL 11%, And SNX 10%

Written by: Dare Shonubi

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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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Aug 28, 2020


Elrond is currently riding an intense bull market, leading on with around 17% gain on our 24-hour top gainer’s list. Amid this impressive alt season experience, Bitcoin slumped just before the end of last week.

First failing the support at $11,800 level, the top cryptocurrency has now gained about 2% in the last 24 hours, diving towards $11,400.

Ethereum on the other hand is seen to mirror the effect also with around 7% within the same time frame. Ethereum has now conveniently settled above $390 as more upside is expected.

Below is the list of the crypto markets top performers of the last 24 hours. Some more than others, all featured cryptocurrencies sure left investors with loads of surprises and expectations.

Also Read : How To Invest in DeFi? – Helpful Guide

#1. Elrond (ERD 17.21% Gain):

Elrond comes first on today’s list with an outstanding 17.21% gain in the last 24 hours. 

The coin’s market belief is altogether bullish with 90% of market respondents choosing a bullish stretch into the ripe If the trading day.

ERD Trading view

The price history of Elrond within the last one year looks impressive. Since last year till date, ERD has gained 766% and about and about 26% since last month. 1.2% loss in the last two weeks and 1.0% in the last hour. 

ERD is currently changing hands at $0.0205 amid a 24-hour market capitalization of $275 million. Within several exchanges, more than $33 million ERD was exchanged in the last 24 hours. 

#2. Ampleforth (AMPL 10.83% Gain):

AMPL receives the top commendation amidst this rise of leading gainers with a 10.83%.

Ampleforth trading view

AMPL records this earnings as a continuation to the bull run of yesterday, which in turn, is launching a buying pressure within the last 24 hours

AMPL is instantly trading at $0.7 around a market capitalization of $139 million. The coin’s exchange volume in the last 24 hours is approximately $14 million.

Technical Points

AMPL broke the resistance level at $0.68 to top the level. Eventually, the coin rose all the way to $0.70 with a 17% profit.

Farther this level, the more level of key resistance fibs at $0.75 where prices have examined and declined in the past.

  • Next major resistance $0.75
  • Next major support at $0.68
  • RSI approaching overbought condition at 70.0

#3. Synthetix Network Token (SNX 10.9% Gain):

SNX grabs third place in this wave of gainers’ list. The coin gained around 10.9%.

Synthetix Network Token

SNX obtained some earnings within the week consistently. The coin progressed by 8.2% within the last 7 days. Also, in the one-month timeframe, SNX received 99% profit and still gains roughly 1,747% within the last year.

Technical Points

Prices jabbed beyond the $6.50 level and returned to it shortly after. Building a line of support at the point, SNX organized tough support at $6.5 level. With the timely resistance at $7.0 the next key support lies at $6.5

  • Next key support at $6.5
  •  Next key resistance at $7.0
  • RSI broke through the 70.0 level upwards. A little retracement to 50.0 is imminent.

Also Read : Why is 2020 a Year of Defi?

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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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