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Top Defi Tokens Losing Value: YFI 8%, YFII 7.5%, COMP 4%

Author: Dare Shonubi

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

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The Defi corner of present-day crypto markets remains very busy lately. While extreme volatility is not left out of the picture, many Defi tokens are responding to a bearish trend.

In the past 24 hours, however, Bitcoin gained the advantage at the $10,500 level. Strolling past the price area, the top cryptocurrency has found minor support above $10,700. While this strides BTC towards the $11,000 area, ETH is busy clearing the mess at $370.

#1. (YFI tokens 8% Loss):

YFI chart

YFI had a rough market grasp within the last 24 hours. In the timeframe described, the coin received around 8% loss which accumulated to a 22.8% 14-day loss.

At the time of writing this piece, YFI is trading at $28,342 while plunging towards the $28,000 mark. This is about a 23% negative difference in the biweekly time frame.

The coin overcame the $28,000 resistance level but failed the next opposition at $28,500. Before midday, YFI tested the price level at $28,300 but failed to break the level properly. It later fell below to build key support at $28,250.

Within the last 30 days, YFI gained around 532% to register a substantial profit amid the top gainer’s cryptocurrencies of the ongoing bull season.

  • Next level of major resistance at $29,000
  • Next level of major support at $28,000
  • RSI has leveled out at the 90.0 level and seems to need a slight retracement.

#2. DFI.Money (YFII 7.5% Loss):

YFII chart

Second, on this list is DFI.Money. The coin has lost around 7.5% since yesterday and makes the list for the first time this week.

As a top gainer today, YFII maintains a brilliant market emotion. With 89% optimism, markets are likely to swing bullish in the near time.

The past month was amazing for YFII. The coin amazed some 148.7% gain but sank in the 24-hour graph. Losses were accrued in the 14-day and weekly timeframes with 39% and 6% respectively.

YFII is currently trading at $3,325 amid further bullish possibilities.

Technical Points

  • General market mood is bullish
  • Prices failed at the $3,500 resistance level
  • Next level of major resistance lies at $3,450
  • Next level of major support lies at $3,200.

#3. Compound (COMP 4% loss):

COMP chart

COMP attains the next spot on this list with approximately 4% 24-hour loss.

Although with alternate ups and downs, we see COMP sinking against its USD pair steadily. Finally, the 32nd crypto by market capitalization was able to stick the landing at $134.0.2 as the bears charged downwards for further losses.

Market belief remains bullish as roughly 80% believe there is more bullish move inbound.

Technical Points

  • Prices broke major resistance at $130
  • Next key support level lies at $130
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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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