NewsPrice Analysis

Top DeFi Token of September 10th: AMPL 38%, YFI 33%, LEND 31%

Extreme price volatility graced the crypto markets today. Within the past 24 hours, many altcoins, particularly Defi tokens have overtaken the market with impressive gains. AMPL is taking the lead, as top Defi coins like YFI and Aave are ruthlessly trying to catch up from behind. 

The surprises are particularly interesting as over 95% of the general crypto markets swung into a sudden bull run. Such price swing has directed BTC towards the $10,500 level while ETH is seen to be testing the $400 level again. 

#1. Ampleforth (AMPL 38.49% Gain):

AMPL tarding chart

AMPL receives the top acknowledgment amidst this wave of dominating gainers with a 39% daily profit.

AMPL lists this income as a continuation of the bull run of a being experienced in a couple of days now. This, in turn, is initiating a buying pressure within the last 24 hours

AMPL is instantly trading at $1.07 around a market capitalization of $233 million. The coin’s exchange volume in the last 24 hours is approximately $36.3 million.

Technical Points

AMPL broke the resistance level at $0.8 to top the level. Ultimately, the coin rose all the way to $1.05 with roughly 40% profit.

Further this level, the more level of key resistance fibs at $1.10 where prices have been examined in the time past.

  • Next major resistance $1.10
  • Next major support at $0.8
  • RSI approaching overbought condition at 70.0

Also Read : Ampleforth (AMPL) Price Prediction 2020: Can AMPL Price Reach $10?

#2. Yearn.finance (YFI tokens 33.69% Gain):

yearnfinance-charts

YFI had a neat market grip within the last 24 hours. In the timeframe described, the coin received approximately 34% gain to balance up a week-long market trading which grew to around 11% loss.

At the time of writing this piece, YFI is trading at $29,276 while surging towards the $30,000 mark. This is about a 88% difference of gains in the biweekly time frame.

The coin overcame the $28,500 resistance level but failed the next opposition at $30,000. Before midday, FYI tested the price level at $30,000 again but failed to break the level properly. It later fell below to build key support at the $29,000 level.

Within the last 30 days, FYI gained around 362% to register a considerable revenue amid the top gainer’s cryptocurrencies of the ongoing bull season.

  • Next level of major resistance at $30,000
  • Next level of major support at $28,000
  • RSI has leveled out at the 90.0 level and seems to need a slight retracement.

Also Read Yearn.Finance Price Prediction 2020. Will YFI Price Reach $20,000?

#3. Aave (LEND 31.25% Gain):

aave-charts

Aave achieved gallantly within the last year. The coin logged around 14,996% earnings in the one-year timeline. LEND gathered earnings last month with 75.1%. On the opposite, last week, LEND lost around 1.1%. The cryptocurrency is down 0.1% in the last hour.

Now trading at $0.68, it seems the market perception is bullish in the short term. 95% of market respondents are bullish while 5% stay bearish on LEND.

Technical Indicators

LEND/USD glows bullish with prices looming above the lid of the Bollinger Band. There’s a noticeable price increase above the Bollinger top where prices may lead the way to the $0.65 level.

  • Next major resistance lies at $0.65
  • Next key support level at $0.60
  • RSI penetrated the 70.0 level and further movement upwards seems highly possible.
Tags
Show More

Dare Shonubi

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

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also
Close
Back to top button
Close
Close