With the increase in the volatility in the market, the DeFi tokens have experienced a significant uptrend in their respective portfolios. Further, top Decentralized Financial tokens have added over 50% this month, indicating a positive sentiment for this category in the crypto space.
The investors are concerned about their investments in this category to maximize their profits. This article covers the top 3 DeFi tokens that have the potential to record massive gains in the upcoming month.
COTI (COTI):
The COTI price traded in a closed range between $0.05481 and $0.07149 for over a week, following which the bulls gained momentum and broke out of the resistance level. However, the rally was short-lived as the price faced rejection at $0.10653, after which the price traded sideways for the next twelve days.
After multiple failed attempts, the bulls regained momentum and recorded a jump of 143% within the next two days. Following this, the price faced rejection at $0.23222 and since then has been trading under a bearish influence.
The Moving Average Convergence Divergence (MACD) displays a decline in the green histogram, indicating a weak price action for the coin in the market. Further, the averages show a constant rise, highlighting a mixed sentiment in the crypto space.
If the bulls regain momentum, the COTI price will test its upper resistance level of $0.26. Maintaining the price at that level will set the stage for the price to test its upper limit of $0.30 in the upcoming weeks. Conversely, a bearish reversal may pull the price to its support level of $0.137.
Uniswap (UNI):
The Uniswap price displayed a neutral trend for a brief period, after which the market volatility increased, resulting in the bulls successfully breaking out of the resistance level. Following this, the token traded between $6.261 and $6.891 for the next few days.
After this, the bulls successfully regained momentum and recorded a jump of 7%, following which the price traded in a consolidated range. Recently, the bulls recorded another jump of 71%, after which the price has been trading in a consolidated range.
The technical indicator, MACD, shows a rising red histogram, indicating an increase in the selling pressure within the market. Moreover, the averages display a bearish convergence, suggesting a negative price action in the upcoming days.
If The UNI price holds itself above the support level, it will test its upper resistance level of $12.623. Further, if the bullish sentiment continues, it will prepare to test its upper level of $15. Negatively, a trend reversal may result in the price testing its low of $8.053.
Ocean Protocol (OCEAN):
The Ocean Protocol price traded in a narrow space for the first few days of the month, following which the price gained momentum and broke out of the range. After trading sideways for a while, the price displayed a constant rise and added 26% over the next nine days.
As the market volatility grew, the bulls recorded another jump of 34.7% in valuation. Since then, the price has been trading in a consolidated range, indicating a cool-off in the price action.
The MACD displays a constant red histogram, indicating a bearish influence in the crypto space. However, the averages show a high possibility of a bullish convergence, indicating a mixed sentiment in the crypto space.
If the bulls regain power, the COTI price will test its resistance of $0.8068 in the coming time. If the market holds the price at that level, it will test its upper resistance level at $0.90. Conversely, a bearish sentiment would pull the price toward its support level of $0.6035.
Conclusion:
Despite major tokens displaying a bearish sentiment at the time of writing the article, this category is predicted to gain massive price action in the upcoming months due to its increased hype in the cryptocurrency market.
NOTE: This is not financial advice or a promotion article and was written only for informational purposes.
This news is republished from another source.
