NewsPrice Analysis

Top DeFi Tokens Losing Value: YFII 12%, SUSHI 9%, UNI 8%

Highlights

    YFII leads losses at 11%

    Uniswap joins loser list at 9%

    Sushi swings bearish again, gets 7% daily losses.

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.

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In the past 24 hours, however, Bitcoin is seen fumbling around the $10,500 level. Strolling past the price area by a little margin, the top cryptocurrency has found minor support above $10,500. While this strides BTC towards the $10,700 area, ETH is busy clearing the mess at $340.

#1. DFI.Money (YFII 11.2%Loss):

First on this list is DFI.Money. The coin is down around 11% since yesterday and makes the list for the first time this week.

As a top loser today, YFII maintains disappointing market emotion. With 55% pessimism, markets are likely to swing bearish further.

The past 2 months were amazing for YFII. The coin amazed some 2,050% gain but pressed further in the 24-hour graph for some losses. Also, losses were accrued in the 14-day and weekly timeframes with 36% and 22% respectively.

YFII is currently trading at $2,585 amid further bullish possibilities.

Technical Points

  • General market mood is bearish
  • Prices failed the $2,800 support level
  • Next level of major resistance lies at $2,800
  • Next level of major support lies at $2,500

#2. Uniswap (UNI 9.32% Loss):

After UNI tokens were airdropped to thousands of users, the coins record its second major daily loss for the daily timeframe. While this caused great panic among crypto enthusiasts lately, the coin seems to have caught a deep bearish signal.

UNI coin lost around 9% since yesterday. The coin has an excellent market sentiment among traders voting for a prolonged bull market into the last quarter of the year.

In the 24-hour timeline, the coin is down by almost 10% but a bullish possibility seems to be intact.

Technical Points

  • General price trend is bearish
  • Major price support is set at $3.90
  • Next level of possible resistance lies at $4.0

At the time of writing this piece, UNI is trading at $3.90. Its market cap is hovering around $703 million.

#3. SushiSwap (SUSHI 7.31% Loss):

SUSHI makes the third spot on today’s list of top losers. Although, its price, since the last two weeks was dangerously 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 60% pessimism, traders believe the tokens may soon plunge into another bear markets.

The token is only about 3 weeks old and has made around 90% loss since last week. The 2-week timeframe is also bearish with around 35% loss.

SUSHI is now changing hands at $1.10 amid a market cap hovering around $171 million.

Technical Points

  • SUSHI failed to hold the support at $1.2 and is now testing the next support level at $1.0
  • Next level of major support lies at $1.0

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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