The post Will These DeFi Tokens Surge 10X This Altcoin Season? appeared first on Coinpedia Fintech News
With an optimistic surge in Bitcoin prices, bulls anticipate a breakout run above the $65000 mark. Amidst the growing confidence in the market, the DeFi tokens prepare for a bull run as the altcoin season inches closer.
As the demand grows in the crypto market with increased chances of rate cuts, the crypto prices are on the cusp of a moonshot. So, let’s look closer at these DeFi tokens with a 10x potential in the next altcoin season.
Top DeFi Tokens Surge 10X:
JITO (JTO)
With a triangle breakout in the daily chart, JITO price action concludes the short-term bearish phase. Bouncing off from a newly formed support trendline, the JTO price surpasses the 50D EMA and challenges the 200D EMA.
Based on the Fibonacci levels, the bullish trend tests the 38.20% level at $2.713. Currently, the DeFi token trades at $2.701 following the overnight jump of 10.96%, forming a bullish engulfing candle.
Further, the JTO price reveals a double bottom reversal with a neckline at 38.20% level. A breakout rally above the neckline will propel the JTO price to the 52-week high at $4.882. In the long term, the Fibonacci level puts $8.78 and $22.72 on the radar for a 10x potential.
0x Protocol (ZRX)
Similar to JITO, the 0x protocol token shows a new bullish uprising with a seven-day streak of bullish candles. The upcycle in the ZRX price accounts for a 17% surge and results in a long-coming resistance trendline breakout.
Furthermore, the uptrend surpasses the 50D EMA, and the bullish influence gives a positive crossover in the VI lines. Based on the Fibonacci levels, the breakout rally can find the 23.60% level with the 200D EMA as the next critical resistance.
A breakout run above this level will increase the likelihood of the DeFi token gearing up to reach $1.33. Optimistically, the bull run in the altcoin season could find the 1.618 level at $3.71 within reach.
Loopring (LRC)
With a double bottom reversal from the $0.01182 support level, the uptrend in the LRC price reflects strong momentum. The bullish uprising challenges the overhead trendline of a falling channel formed during the correction phase.
Further, the bullish crossover in the VI lines and the 24% hike in 7 days increase the chances of a breakout run. Based on the Fibonacci levels, the uptrend in the DeFi token can reach the 50% level at $0.2525 next week. In the altcoin season, the uptrend can reach the 1.618 Fibonacci level at $1.37.