Price Analysis

Defi Tokens Continue To Thrive – AMPL 16%, TRX 14%, YFI 10%

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 space is fast setting itself apart from the “sea of crypto projects” categories gracing the blockchain ecosystem lately. As a matter of fact, it is however undeniable that Defi coins are the best performing set of cryptos within the last couple of months.

Although there’s an ongoing contemplation on which Defi token actually takes the lead in terms of the best performance, such recognition, today, solely lies among three:

#1. Ampleforth (AMPL 16.85% Gain):

AMPL receives the top applause amidst this wave of dominating gainers with a 16.58% daily profit.

AMPL lists this income, proceeding its recent bull run, which in turn, is instigating a buying pressure within the last 24 hours

AMPL is instantly trading at $2.21 around a market capitalization of $500 million. The coin’s exchange volume in the last 24 hours is virtually $80 million.

Technical Points

AMPL broke the resistance level at $2.0 to top the level. Ultimately, the coin rose all the way to $2.2 with a 16% profit.

Farther this level, the more level of key resistance waits at $2.5 where prices haven’t been examined before.

  • Next major resistance $2.5
  • Next major support at $2.0
  • RSI approaching overbought condition at 70.0

#2. TRON (TRX 14.30% Gain):

Tron blockchain’s native crypto, TRX spots the limelight for the first time since the onset of the alt season. As the top crypto makes waves towards higher heights, its gains roughly 14% in the past 24 hours.

TRX’s market emotion is conveniently bullish with roughly 90% market optimism, according to stats on Coingecko.

Within the past 24 hours, TRX experienced two major price swings, altogether striding it towards greater optimism. Major support is established at $0.29 but prices are now playing around the $0.30 level.

Technical Points

  • Next key support at $0.29
  • Next resistance level at $0.32
  • RSI horizontal at 50.0

#3. (YFI tokens 9.18% Gain):

YFI had a neat market grasp within the last 24 hours.

In the timeframe described above, the coin attained around 9.18% to maintain a week-long market gain which accumulates to around 121.8%.

At the time of writing this piece, YFI is trading at $34,000 while pacing ahead the $40,000 mark. This is about a 278% change in the biweekly timeframe.

The coin overcame the $30,000 resistance level and went past the next opposition at $32,000. Before midday, FYI tested the price level at $38,000 but failed to break the level properly. It later fell below to build key support at $34,000

Within the last 30 days, FYI gained around 1,000% to register a substantial profit amid the top gainer’s cryptocurrencies of the ongoing bull season.

Technical Points

  • Next level of major resistance at $38,000
  • Next level of major support at $32,000
  • RSI has leveled out at the 90.0 level and seems to need a slight retracement.
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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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