Best DeFi Tokens to Buy Before the Bull Run Begins!
Amidst the broader market, a lack of confidence has been evident, with Bitcoin struggling around $60K. However, DeFi tokens surprisingly ignore the voice of the market as the smart money expects a bull run in the DeFi space.
As the top DeFi tokens gear up for an accelerating run with the ongoing reversal, here are the top picks to buy.
Top DeFi Tokens to Catch:
Phantom (FTM)
With a bullish reversal from the $0.29 support level, Phantom completes a long-term bearish trend. The FTM price is above the 50D EMA as the reversal trend is gaining momentum. As a resistance trend line is established in the form of low highs.
A bullish reversal results in a high in the 50D EMA and creates a bullish candle with a 15% rise. In addition, the DMI indicator shows a positive crossover in the VI lines and a bullish reversal in the ADX line.
So, the rising impulse in the Phantom laughs at the protest at breakneck speed. At the next resistance at $0.49 or the 23.60% Fib level, a breakout run will help FTM price hit the $0.62 supply zone. So, the flip potential in DeFi token is 40%.
Uniswap (UNI)
On the 4-hour chart, a bullish reversal in UNI price indicates an underlying impulse. A rise above the 50 and 200 EMA in the 4-hour time frame and a break of the 50% Fibonacci level.
UNI price has increased by 13% in the last 24 hours and is poised to cross the $7 mark. Additionally, the momentum indicators show a bullish rebellion in the MACD indicator.
A massive rally in Uniswap prices suggests a possible rise to the 100% Fib level at $8.592. Optimistically, a rise could reach the 1.618 Fib level at $10.84.
Chainlink (LINK)
As the end of the correction phase may come, LINK price teases a bullish trend in a falling wedge pattern. In addition, with the round bottom reversal in the bull cycle, the price of LINK shows an increase of 14%, resulting in a series of bullish candles.
Along with the bullish cross in the MACD indicator, the VI lines show the bullish cross. Therefore, momentum indicators reinforce the possibility of a bull cycle.
Based on the rising momentum of the reversal rally, the price of Chainlink could reach the $16.75 mark after the breakout.
