Top DeFi Tokens To Add To Your Portfolio Before March 2023 Ends
A majority of major cryptocurrencies experienced significant growth over the last two weeks, restoring a recovery sentiment in the crypto market. Moreover, the ongoing banking crisis in the United States is driving increased adoption of cryptocurrencies, suggesting further potential for growth. Amid this recovery, we’ll analyze some of the top Defi tokens to find long-entry opportunities and determine their potential target.
Uniswap(UNI)
Source- Tradingview
The Uniswap coin price has been trading as a sideways trend for the past seven months, wobbling between the $4.9-$4.7 selling climax and the $7.8 buying climax. This range-bound rally offers two long entry opportunities for traders, one near the $4.9 support for bullish reversal trade and another upon the breakout of the $7.8 mark.
By the press time, the UNI price trades at the $6.35 mark, with an intraday gain of $2.98. With sustained buying, the ongoing recovery will head toward the overhead resistance of 7.8, which indicates a breakout opportunity on the horizon.
Stacks(STX)
Source- Tradingview
Within a fortnight, the Stacks coin price witnessed an explosive rally from the $0.546 to the $1.3 mark, recording 140% growth. However, over the last four days, the STX price has showcased several higher-price rejection candles at $1.3 resistance, indicating the exhausted bullish momentum.
As of now, the Stacks coin price trades at $1.22, and the aforementioned rejection indicates a possible correction. As per the Fibonacci retracement level, the potential could obtain strong support at $1.03 at 0.236 FIB level or $0.9 at 0.382 FIB level.
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Graph(GRT)
Source- Tradingview
A V-shaped recovery in Graph token price witnessed a minor pullback after hitting a local resistance of $0.163. This correction phase tumbled the prices 13% down to resist the reclaimed level of 0.14.
Today, the GRT price trades at the $0.15 mark with an intraday gain of 2.2%. Moreover, the lower price rejection attached to the daily candle indicates the traders are buying a minor correction which is a crucial trait for an established uptrend.
With sustained buying, the GRT price may surpass the $0.163 resistance and hit the $0.187 barrier.
Conflux(CFX)
Source- Tradingview
On March 19th, the Conflux coin’s recovery rally gave a massive breakout from another significant resistance of $0.4. This breakout accelerates the buying pressure and offers a strong launchpad to interested buyers.
Today, with a 9.6% intraday gain, the CFX price jumped from the flipped support of $0.4 to encourage further price rallies. With sustained buying, this altcoin could rise 38% to hit the $0.6 mark.
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