DeFi coins are gaining momentum as decentralized finance (DeFi) continues to gain attention. In this article, we will talk about DeFi coins that are ready to rally, according to analysts. Here are the details…
Michael van de Poppe referred to these coins as “explosive growth”
First of all, renowned crypto analyst Michaël van de Poppe recently shared his predictions for three popular altcoins in the cryptocurrency market on Twitter. These were XRP, Chainlink (LINK), and Polygon (MATIC). Van de Poppe’s insights provide valuable information for investors looking to capitalize on potential market movements. First, Van de Poppe believes that XRP may experience a deeper pullback near $0.65 before continuing its bullish momentum. This presents an attractive buying opportunity for investors seeking short-term gains. According to his analysis, a subsequent rally could push the price of XRP as high as $0.90. The analyst pointed to the possibility of dealing with the $0.65-0.69 range.
Great! Thanks for advice. 🤝
— ultrafit (@ultraxeight) July 15, 2023
That said, it’s worth mentioning that XRP is facing significant legal challenges. i.e. it is important to note that price action may be affected by legal developments surrounding Ripple’s ongoing litigation with the SEC. Despite these hurdles, many experts expect XRP to potentially touch the $1 mark in the near future. On the other hand, Van de Poppe’s outlook for Chainlink remains positive. He suggests that once the altcoin regains the support of $6, it has the potential for a significant price increase. Chart analysis shows that LINK could rise as high as $16, presenting an attractive opportunity for investors.
Why do you love $LINK so much?
— FormerMaxi (@RyanB06164230) July 14, 2023
Finally, Van de Poppe identifies potential support levels for MATIC. The coin predicts a potential drop to around $0.75 before starting its next leg. The analyst points to two areas of notable interest: an aggressive approach around $0.79-0.80 and a more conservative strategy targeting $0.75. It is worth noting that MATIC has recently shown impressive growth and adoption due to its focus on scalability solutions for the Ethereum network.
Request 05 – $MATIC
Two areas of interest on this one.
Aggressive approach, I'd be interested at $0.79-0.80.
Conservative approach, I'd be interested at $0.75.
Probably not done with this upwards momentum. pic.twitter.com/QvWcsJDTCu
— Michaël van de Poppe (@CryptoMichNL) July 14, 2023
LDO, UNI and AAVE; there are DeFi coins to watch out for
On the other hand, LDO, UNI and AAVE prices all break past key levels on the daily timeframe, suggesting a rally around the corner, according to analyst Akash Girimath. After the situation settled, most of the cryptocurrencies that had risen due to the decision of the SEC and Ripple case were withdrawn due to profit making. However, the price of Compound platform’s COMP has increased by about 31 percent in 48 hours, revealing strong buying pressure from interested investors. Considering the release of Compound with the yield farming launch in June 2020 kicked off DeFi Summer, the recent spike in COMP price may be signaling something similar, according to the analyst.
Lido DAO (LDO) price surged nearly 21 percent on July 13, surpassing a four-month downtrend, according to the analyst. As the altcoin pulls back, traders can focus on the buy zone stretching from $2.16 to $1.93 before the bulls start accumulating again and LDO explodes to significant profit-taking levels. Targets for LDO include $2.55, $2.81, $3.04, $3.30.
Has UNI, AAVE exceeded critical levels?
Uniswap (UNI) price broke the $5.63 barrier, a massive blockade of all bullish attempts from April 21, 2023. This level has been critical since May 12, 2022 and turns into support and resistance levels many times. As a result, UNI is trading in a range from $3.35 to $9.80. However, the recent recovery above $5.63 opened the doors for UNI bulls to push Uniswap price to the initial target of $6.57 and then the final target of $8.05.
AAVE (AAVE) price has been in a downtrend since June 2022. Linking these high waves together using a trendline indicates a decreasing resistance level. The recent rise between July 11 and 14 has crossed this trendline, indicating a return of the bulls. However, AAVE must also clear the $80.79 hurdle, which is the midpoint of the range from $45.58 to $116.01. The first target is the $95.77 hurdle and breaking this hurdle will allow buyers to profit from the psychological level of $100.
