Price Analysis

Top DeFi Tokens To Invest For A 2X Surge In June

With Bitcoin price being optimistic, under $70,000, and Ethereum aiming to surpass $4000, the crypto market is turning bullish. Amidst the growing investors’ confidence, the DeFi tokens are making a comeback this season.

With a bullish month, the uptrend in DeFi tokens brings lucrative entry opportunities for sideline traders. So, let’s look closer at the top DeFi tokens to buy for a 2X surge in June. 

Chainlink (LINK)

With a market cap of $10.78 billion, this Oracle token shows a bullish trend with the rise in the DeFi sector. The bullish turnaround in the LINK price from the $13.13 support level accounts for 40% in the last 14 days. 

Tradingview

As per the trend-based Fibonacci levels, the recovery rally now approaches the 50% Fibonacci level. Further, the 50D and 200D EMA avoid a bearish crossover and reignite a bullish trend. 

With the bull run approaching the $20 mark, the possibility of a price jump increases for the LINK token amidst the broader market recovery. In such a case, the bull run could peak at $34 in June. 

Thorchain (RUNE)

With a bullish recovery in action, the RUNE price shows a 28% jump in the last 28 days. Further, the improving underlying sentiments are evident with the double bottom pattern at the 50W EMA.

Tradingview

As per the Fibonacci levels, the 23.60% level is a solid support level, with the bulls challenging the 38.20% level. Furthermore, the RUNE price shows a rounding bottom reversal with a golden crossover in the weekly 50W and 200W EMAs.

As the demand improves in the DeFi sectors, the RUNE price could reach the 50% Fibonacci level at $10. Further, a breakout rally could reach the $15.49 mark by the end of June. 

Uniswap (UNI)

Tradingview

The UNI price action shows a bullish reversal from the 50W EMA, challenging the overhead resistance trendline. This increases the chances of a trend reversal in the DeFi token. 

With a massive jump of 46% last week, the bullish engulfing candle increases the possibility of a price jump. With the buyers anticipating a bullish breakout of the overhead resistance trendline, the UNI price trend aims to reach $20 in June. 

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