Top Plunges of DeFi Space SUSHI 20%, BAND 11% and RUNE By 10%

Ethereum has settled comfortably below the $348 level while further downside may be in the short term picture. Bitcoin, however, keeps staging several alternate ups and downs while finally rising above the $10,000 level again.

Sushiswap for lost around 20% since yesterday which had gained approximately 120% in the past few days. Our list includes top performers today and a few top losers which are noticeable amid the sea of coins present in the crypto markets.

Top Losers:
1. SushiSwap (SUSHI 19.68% Loss): SUSHI makes the top spot on today’s list of losers. Although, its price, within last week was immensely low due to an alleged exit scam purported by its creator. Converting over two million in SUSHI tokens to ETH, the shock left SUSHI’s community in disarray.

As of now, the market sentiment towards SUSHI is very conservative. With around 50% pessimism, traders believe the tokens may soon plunge into another bear market.

The token is only about 2 weeks old and has made around 15% loss since last week. No other time frame exists except for lower daily in which the coin amazed around 100%.

SUSHI is now changing hands at $2.32 amid a market cap hovering around $183 million.

Technical Points

• SUSHI failed to hold the support at $2.4 and is now testing the next support level at $2.2

• Next level of major support lies at $2.2

2. Band Protocol (BAND 10.35% Loss): BAND is the most disappointing loser on today’s list. With 10.35% loss today, the coin drains its price by around 50% for the previous week.

With over 48% market depression, BAND delivers large bearish signals and may plummet further as a result.

BAND declined through the central resistance at the $8.5 level and has set extra support at $8.0 level. In the situation that further price dip occurs, the next level of minor support lies at $7.5. Although an upside action is most inclined from here, extra resistance lies up the chart at $9.0 area.

Technical Indicators

• Next major resistance at $8.5
• Next major support level at $7.5
• Resistance Strength Index returned form the 80.0 overbought condition.

BAND is now trading at $8.2 and its markets are valued at $168 million. 

3. ThorChain (RUNE 9.47% Loss): Rune plunges with a substantial 9.47% loss since the last day.

The top loser has a relatively distributed market attitude as approximately 40% of traders are bearish on RUNE.

In the one year timeline, RUNE progressed by 3,523% and has gained throughout many timeframes. In the last month, the coin recorded 12.4% loss and also lost around 32% since last week.

RUNE is now changing hands at $0.67 while its market capitalization hovers around $140 million.

Technical Indicators

• Prices failed the resistance test at $0.75 and may plunge further

• The next level of major support lies at $0.65

• RSI is returning from the 90.0 level.