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DeFi Tokens Towards Crucial Resistance! LINK, AAVE, UNI Price Surge

Highlights

    The Crypto market after a slight pullback has recovered with an increase of 2.48 percent in the global market capitalization

    Bookmarked DeFi tokens record significant gains, AAVE token price hiked by more than 14 percent.

Crypto market experienced a slight downtrend in the past working day which took down the Bitcoin price below $15,500 levels. However, with the onset of the fresh week, bitcoin price entered the retracement levels along with the other crypto assets and DeFi tokens. Tokens like AAVE, LINK, UNI, etc mark notable gains within a small frame of time.

Chainlink price appears to have maintained above its strong support levels despite a dip in recent times. The market capitalization is also about to touch a $5 billion milestone, however, the 24-hour trading has experienced a downtrend.

The LINK price at the press time is $12.45 with an increase of 4.49 percent in the last 24-hours. The market sentiments seem to be very bullish. Analysts believe that LINK is heading towards its crucial resistance at $13. And with the successful accomplishment of the target, there would be no pullback.

  • The current resistance levels are formed around $13.23. The next biggest resistance levels are around $13.62 which is the highest since the first dump.
  • The current support levels are formed at $12.04 which needs to be maintained else the asset would enter a bearish trend which can take the LINK price below $12.
  • The technical indicators suggest a ‘Strong Buy’ signal for the asset.

Uniswap(UNI) Price

Uniswap price has entered a correction phase in the past couple of hours. The UNI price had trembled down below $2, but with a significant push the price was on the verge to cross $3, but currently settle above $2.5.

The UNI price at the time of record is $2.71 with an increase of 5.79 percent in the past 24-hours. With a remarkable 25 percent gains in the last week, the market sentiments are bullish.

  • The current resistance levels are formed at $2.93, which need to be tested to touch the next levels at $3.43
  • The current support levels are formed at $2.66.
  • The technical indicators point towards a ‘Buy’ indicator

Aave(AAVE) Price

Aave price seems to have headed towards the bounce with a drastic surge in the price. The price rallied from below $30 to above $50 in just a couple of days and hence expected to maintain the jump in coming days.

At the time of reporting, the AAVE price is $51.72 with an increase of 9.75 percent. The enormous jump in the trading volume which has surpassed $300 million has rallied the market capitalization above $600 million.

  • The current resistance levels are formed at $56.42
  • The current support levels are formed at $50.76
  • The technical indicators point towards ‘BUY’ signal

The Bitcoin price also had witnessed a drawback but currently has rallied over 2.41 percent to touch $15,397.86 with an increase in dominance that records 64.38 percent.

The global crypto market capitalization has increased by 2.20 percent to touch $442.94 billion. On the contrast, the market volume has dipped by 25.57 percent recording $99.68 billion.

Also Read: Top 10 Cryptocurrencies One Should Look Out to Invest in 2020

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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