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Best DeFi Tokens to Maximize Your Profits During the Next Bull Rally!
The cryptocurrency sector has shown a strong bullish reversal in its valuation after recording a significant decline due to the cross-border market correction over the past week. Furthermore, the 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 have seen a strong bullish reversal this week and indicate a positive outlook for the coming period. In this article, we have covered the 5 best DeFi tokens to accumulate ahead of the next bull rally.
LevaFi (LEVERAGE):
Formally known as RAMP DEFI, LiverFi is a decentralized leveraged trading platform. After showing weak price action during the previous year, this altcoin started the year positively, indicating an increase in bullish sentiment for the LEVERFI token.
Furthermore, it has gained 16.27% over the past seven days and 21.15% over the past 30 days, highlighting positive price action. Furthermore, it has a year-to-date (YTD) return of +135.19%, suggesting a bullish outlook for the altcoin during this year.
The technical indicator, MACD, shows a rising green histogram, indicating increased buying-selling pressure in the cryptocurrency sector. Furthermore, the averages show a significant increase in the 1D time frame, suggesting that the price will continue to gain value in the time 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 upper 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 has shown a jump of over 20% in the last day, indicating an increase in buying pressure within the crypto space. Furthermore, the altcoin successfully took the top spot in the DeFi category, registering an increase of 1,225% since the beginning of the year.
The MACD shows a significant decline on the chart with its averages showing bullish convergence in the 1D time frame, highlighting a positive outlook for this altcoin in the near future.
If the bulls regain momentum, the OM price will prepare to retest its upper high of $1.05 this month. Furthermore, if the bulls keep the price at that level, it will continue to rise and test a new high this year. Negatively, a growing disinterest from investors could lead the price to touch the 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 composed of Theta Blockchain and Theta Edge Network.
The TFUEL token has shown a steady increase in its valuation adding 25.01% in 30 days and 119.36% year-to-date, further highlighting a strong bullish influence for the altcoin in the crypto space.
On the other hand, the Relative Strength Index (RSI) shows a neutral trend on the chart, indicating weak buying and selling pressure for the altcoin in the market. However, the Cross 50-day EMA supports the price chart, highlighting mixed sentiment in the cryptocurrency sector.
If the bulls get the better of the bears, TFUEL price will race to test its $0.131 upper resistance level. Holding the price at that level will set the stage for testing its upper high of $0.175 in the coming months. Conversely, bearish price action could push the price towards the $0.070 low.
Nervous Network (CKB):
After showing a neutral trend for the first month, the price of CKB attracted the market’s attention, so much so that the altcoin recorded a high of $0.0379, with an increase of 1,163% in the following two months. However, the bulls lost momentum and the price has been showing bearish price action ever since.
The Moving Average Convergence Divergence (MACD) shows a steady decline in the histogram, highlighting an increase in bullish sentiment in the cryptocurrency sector. On the other hand, the 50-day EMA acts as a resistance on the price chart, suggesting uncertainty in future price action.
If the market pushes the price above the $0.020 resistance level, the bulls will regain momentum and test the upper high of $0.325. Conversely, a bearish price sentiment could lead the price to hit a low of $0.01 in the coming period.
TokenFi (TOKEN)
With the aim of simplifying the process of tokenizing cryptocurrencies and assets, TokenFi made its official mainnet debut on March 28. This altcoin has seen significant fluctuations in its valuation since the beginning 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, following which the bulls lost momentum. However, the token has regained power, indicating positive prospects for the coming months.
The technical indicator, MACD, shows a steady decline in the red histogram, indicating an increase in buying pressure within the crypto space. Furthermore, the averages show a high possibility of bullish convergence, suggesting a positive outlook for the altcoin in the near future.
If the market pushes TokenFi price above the $0.129 resistance level, the bulls will regain momentum and prepare to test its upper high of $0.202 in the coming weeks. However, a bearish pullback could cause the altcoin to drop towards its crucial $0.055 support level.
Conclusion:
Decentralized tokens (DeFi) have shown a significant increase in buying and selling pressure within the cryptocurrency sector, indicating an increase in investor interest in it.
Furthermore, with the upcoming bull cycle, the DeFi category is expected to register a new all-time high (ATH), as this category plays an important role in the crypto space.
Note: This article is written for research purposes only and is not financial advice. The tokens were selected based on historical market sentiments and not for promotion. Make sure you do your research before investing in any digital asset.