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Top Defi Gainers on September 11th: YFI 11%, ZRX 9%, SNX 4%

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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Sep 11, 2020


    General Defi markets are bearish on the 1-day timeframe

    YFI breaks the $30,000 level again and aims for $35,000 shortly

    ZRX makes the top gainers list for the first time in about a month

Defi tokens today are featured on this list of top gainers. Although the general market sentiment is widely bearish, few coins in this category are nurturing a bull trend. As YFI leads the pack with roughly 11%, few others like SNX and ZRX are seen following a full trend. 

It appears that the crypto markets will have to end the week on a bearish note. 

Bitcoin and Ethereum on the other hand, are leading other altcoins into chaos with their most recent instabilities. While BTC fumbles around the $10,000 mark, ETH is doubling up with the $350 area. 

#1. (YFI tokens 11.25% Gain): 

YFI price today

YFI had a fresh bull run within the last 24 hours. In the same timeframe, the coin earned approximately 11% gain to balance up a week-long market trading which grew to around 12% gain.

At the time of writing this piece, YFI is trading at $33,233 while rising towards the $35,000 mark. This is about a 134.5% gain in the biweekly time frame.

The coin survived the $30,000 resistance level but failed the next resistance at $34,000. Before midday, YFI assessed the price point at $34,000 again but failed to break the level properly. It later fell below to build key support at the $32,000 level.

Technical Points: 

  • Next level of major resistance at $34,000
  • Next level of major support at $30,000
  • RSI has leveled out at the 90.0 level and seems to need a slight retracement.

Also Read : Yearn Finance: A 3 Minutes Guide to YFI Token

#2. Synthetix Network Token (SNX 3.41% Gain):

SNX price Today

SNX grabs second place in this wave of gainers’ list. The coin gains around 4%.

SNX obtained some profit within the week consistently. The coin expanded by 6.2% within the last 7 days. Also, in the one-month timeframe, SNX earned 14.2% and still gained about 1,275% since last year.

Technical Points

Prices jabbed through the $5.4 level and retreated to it soon after. Assembling a string of support at the point, SNX established tough support at the $5.4 level. With the immediate resistance at $$5.2 and the next key resistance lies at $5.8

  • Next key support at $5.2
  • Next key resistance at $5.8
  • RSI broke through the 70.0 level upwards. A little retracement to 50.0 is imminent.

#3. 0x (ZRX 8.4% Gain):

ZRX price today

Coming third on this list today is ZRX. On the daily timeframe, the token is up around 9% and this earns ZRX a spot among today’s top gainers. 

ZRX’s market sentiment is widely bullish. Over 80% of traders vote for an inbound buying pressure. This may launch a bull campaign shortly and lead prices towards higher heights. 

ZRX gained through all time frames except the 14-day where it lost roughly 17%. On the weekly agenda, the coin is up 13% and has also gained 210% in the yearly time frame. 

Technical Points

  • ZRX overcomes major resistance at $0.48
  • Minor support is set at $0.50
  • Next key support level is set at $0.40

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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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