Price Analysis
  • Sohrab Khawas
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    Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.

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Top DeFi Tokens To Invest For A 2X Surge In June

With Bitcoin price being optimistic, under $70,000, and Ethereum aiming to surpass $4000, the crypto market is turning bullish. Amidst the growing investors’ confidence, the DeFi tokens are making a comeback this season.

With a bullish month, the uptrend in DeFi tokens brings lucrative entry opportunities for sideline traders. So, let’s look closer at the top DeFi tokens to buy for a 2X surge in June. 

Chainlink (LINK)

With a market cap of $10.78 billion, this Oracle token shows a bullish trend with the rise in the DeFi sector. The bullish turnaround in the LINK price from the $13.13 support level accounts for 40% in the last 14 days. 

As per the trend-based Fibonacci levels, the recovery rally now approaches the 50% Fibonacci level. Further, the 50D and 200D EMA avoid a bearish crossover and reignite a bullish trend. 

With the bull run approaching the $20 mark, the possibility of a price jump increases for the LINK token amidst the broader market recovery. In such a case, the bull run could peak at $34 in June. 

Thorchain (RUNE)

With a bullish recovery in action, the RUNE price shows a 28% jump in the last 28 days. Further, the improving underlying sentiments are evident with the double bottom pattern at the 50W EMA.

As per the Fibonacci levels, the 23.60% level is a solid support level, with the bulls challenging the 38.20% level. Furthermore, the RUNE price shows a rounding bottom reversal with a golden crossover in the weekly 50W and 200W EMAs.

As the demand improves in the DeFi sectors, the RUNE price could reach the 50% Fibonacci level at $10. Further, a breakout rally could reach the $15.49 mark by the end of June. 

Uniswap (UNI)

The UNI price action shows a bullish reversal from the 50W EMA, challenging the overhead resistance trendline. This increases the chances of a trend reversal in the DeFi token. 

With a massive jump of 46% last week, the bullish engulfing candle increases the possibility of a price jump. With the buyers anticipating a bullish breakout of the overhead resistance trendline, the UNI price trend aims to reach $20 in June. 

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