DeFi
The best DeFi tokens to maximize your profits during the next Bull Rally!
The cryptocurrency sector posted a strong bullish reversal in its valuation after seeing a significant decline due to the cross-border market correction over the past week. Additionally, market leader Bitcoin price regained the $63,000 mark after falling to a low of around $66,000.
On the other hand, decentralized finance (DeFi) tokens saw a strong bullish reversal this week and indicate a positive outlook for the period ahead. In this article, we have covered the top 5 DeFi tokens to stack before the next bull rally.
LeverFi (LEVER):
Formerly known as RAMP DEFI, LiverFi is a decentralized leveraged trading platform. After showing weak price action over the previous year, this altcoin started the year positively, indicating an increase in bullish sentiment for the LEVERFI token.
Furthermore, it added 16.27% in the last seven days and 21.15% in the last 30 days, highlighting positive price development. Additionally, its year-to-date (YTD) return is +135.19%, suggesting a bullish outlook for the altcoin during this year.
The MACD technical indicator is showing an increasing green histogram, indicating increased buying-on-selling pressure in the crypto sector. Additionally, the averages show a significant increase over the 1D time frame, suggesting that the price will continue to gain value in times to come.
If the market pushes the price above its important resistance level at $0.00425, the bulls will regain momentum and prepare to test its high of $0.00550. However, if a bearish reversal occurs, LEVERFI price will lose momentum and fall to test its lower support level of $0.00212.
MANTRA (OM):
Mantra price posted a jump of over 20% over the past day, indicating an increase in buying pressure in the crypto space. Additionally, the altcoin managed to claim the top gainer spot in the DeFi category by registering a 1,225% year-to-date rise.
The MACD shows a significant decline in the chart, with its averages showing bullish convergence over the 1D timeframe, highlighting a positive outlook for this altcoin in the times to come.
If the bulls regain momentum, OM price will prepare to retest its high of $1.05 this month. Moreover, if the bulls hold the price at this level, it will continue to rise and test a new high this year. Negatively, increasing investor disinterest could lead the price to test its low of $0.625.
Theta fuel (TFUEL):
Launched on March 15, 2019, Theta Fuel (TFUEL) is a layer 1 blockchain and decentralized infrastructure for AI, video and entertainment. It is a dual network consisting of Theta Blockchain and Theta Edge Network.
The TFUEL token has shown a steady increase in its valuation by adding 25.01% in 30 days and 119.36% year-to-date, further highlighting a strong bullish influence of the altcoin in the crypto space.
On the other hand, the Relative Strength Index (RSI) shows a neutral trend on the chart, indicating low buying and selling pressure for the altcoin in the market. However, the 50-day Cross EMA supports the price chart, highlighting mixed sentiment in the crypto sector.
If the bulls have dominated the bears, TFUEL price will test its upper resistance level of $0.131. Maintaining the price at this level will set the stage for testing its $0.175 high over the coming months. Conversely, bearish price action could pull the price towards its low of $0.070.
Nervous Network (CKB):
After showing a neutral trend in the first month, CKB price attracted market attention, which helped this altcoin record a high of $0.0379, an increase of 1,163% in over the next two months. However, the bulls lost their momentum and since then the price has shown a downtrend.
The Moving Average Convergence Divergence (MACD) shows a steady decline in the histogram, highlighting increased bullish sentiment in the crypto space. On the other hand, the 50-day EMA acts as resistance to the price chart, suggesting uncertainty over future price action.
If the market pushes the price above the $0.020 resistance level, the bulls will regain momentum and test its high of $0.325. Conversely, bearish price sentiment could lead the price to test its low of $0.01 in the coming period.
TokenFi (TOKEN)
With the aim of simplifying the process of cryptography and asset tokenization, TokenFi made its official mainnet debut on March 28. This altcoin has seen significant fluctuations in its valuation since the start of the year, highlighting a steady increase in investor interest in this project.
TOKEN price started the year with a value of $0.0325 and recorded a high of $0.246 in March, a 656.92% jump in valuation, after which the bulls lost their momentum. However, the token has regained power, indicating a positive outlook for the coming months.
The MACD technical indicator is showing a steady decline in the red histogram, indicating an increase in buying pressure within the crypto space. Additionally, the averages show a strong possibility of bullish convergence, suggesting a positive outlook for the altcoin in the times to come.
If the market pushes TokenFi price above the $0.129 resistance level, the bulls will regain momentum and prepare to test its high of $0.202 in the coming weeks. However, a bearish pullback could see the altcoin fall towards its crucial support level of $0.055.
Conclusion:
Decentralized tokens (DeFi) have shown a significant increase in buying and selling pressure within the crypto industry, indicating an increase in investor interest in it.
Moreover, with the next bull cycle, the DeFi category is expected to record a new all-time high (ATH) as this category plays an important role in the crypto space.
Note: This article was written for research purposes only and does not constitute financial advice. The tokens were selected based on their historical market sentiments and not for promotion purposes. Be sure to do your own research before investing in one or more digital assets.