The Decentralized Financial (DeFi) tokens have recorded a significant uptrend in recent times, indicating a bullish sentiment for these tokens in the market. Further, top DeFi tokens displayed massive price action, resulting in this category gathering huge attention from the crypto market.
This article consists of the top 3 DeFi tokens that have the potential to record a massive surge in their respective portfolios during the upcoming market bull run.
Stacks (STX):
The Stacks token displayed a neutral trend for a brief period, following which the bulls gained momentum, and the STX price recorded a jump of 27.65% in valuation. After facing rejection at $1.9219, the price traded sideways for a while, indicating a cool-off from the price pump.
As the market volatility grew, the bulls regained power and recorded another jump of 52.724% within the next three days. Since then, the price has been trading between $2.4685 and $2.8173 and is on the verge of testing its resistance level, the outcome of which is unpredictable.
The technical indicator, MACD, displays constant flatlines, indicating weak buying and selling pressure in the market. Further, the averages show a bullish convergence, highlighting a positive price action for the token in the coming months.
Looking at the short-term prospect, if the market pushes the price above the resistance level, the bulls will attempt to test its 26-month high of $3.3997. Conversely, if the bears overpowered the bulls, the price would lose momentum and fall to test its lower limit of $2.1836.
Oasis Network (ROSE):
Oasis Network displayed significant fluctuations during the first month of January but started February positively. The ROSE price gained 21.98% within the next two days, following which it faced rejection at $0.12152.
After this, the bulls started trading under a bearish influence and tested its low of $0.11044. Following this, the bulls regained momentum, and the ROSE token jumped approximately 7% in valuation.
Since then, the price has been trading in a consolidated range between $0.11583 and $0.12908. Recently, the price recorded a breakdown in the chart, indicating a rise in the bearish influence in the market.
The MACD displays a rising red histogram, and its averages show a constant decline, highlighting an increase in the selling pressure within the market. This makes it a hot token to buy, as it has strong fundamentals and is predicted to achieve a new high during the coming bull cycle.
Terra Classic (LUNC):
The LUNC price traded in a closed range between $0.00007965 and $0.00009194 for a brief period, after which the market regained momentum, and the price jumped 21.819% within hours.
Following this, the price traded between $0.0001024 and $0.0001165 for the next twelve days, during which the price failed multiple attempts to break out of the resistance level.
After multiple attempts, the bulls recorded a jump of approximately 20%, following which the bulls lost momentum. Since then, the price has been trading in a consolidated range and is on the verge of testing its support level, the outcome of which is uncertain.
The technical indicator displays a constant red histogram, indicating a bearish influence for the token in the market. However, looking at the long-term projection, the Terra token shows a bullish convergence, suggesting a positive price action in the coming months.
