DeFi tokens have shown positive price action over the past few days, recording a strong bullish recovery as cross-border payment systems continue to fluctuate. Moreover, the top tokens have successfully broken through their important resistance levels, indicating a bullish outlook.
Planning to invest in decentralized finance (DeFi) coins but worried about their future prospects? This article may help you clear all your doubts.
Scroll down, in this article, we cover 3 top DeFi crypto tokens that have the potential to outperform top altcoins in the upcoming bull run.
Graph (GRT)
Amid increasing positive action, GRT price has managed to stay above the critical support of $0.1375. Moreover, it has gained 5.61% in the past day and 7.39% in the past week. With a market cap of $1.449 billion, it ranks 51st in the global cryptocurrency list.
The technical indicator RSI is about to cross the midpoint, indicating that the buying pressure on the GRT price in the cryptocurrency market is greater than the selling pressure. Moreover, the MACD shows a similar price action, indicating a positive outlook for the altcoin in the coming period.
If the bulls sustain the price above the critical support at $0.1375, the Graph price will drop towards the resistance at $0.1980. Conversely, a bearish price action could lead the DeFi token to a new yearly low.
Manufacturer (MKR)
After a brief negative impact, Maker price has risen by more than 5% in the past 24 hours with a trading volume of $70.502 million. The year-to-date return is 22.89%, and the altcoin ranks 46th with a market cap of $1.883 billion.
The Moving Average Convergence Divergence (MACD) has recorded a sustained rise in the green histogram, with the positive action of its moving averages strengthening. This suggests that the Maker price will continue to trade under a bullish influence for some time to come.
Assuming that bulls continue to dominate the market; in this case, MKR price will rise to a high of $2,630. However, negative actions could pull the DeFi token towards its critical support level of $1,700 in the future.
Stack (STX)
STX price continues to show a bullish trend, up 9.44% in the past day and 12.53% in the past week. Moreover, the altcoin is about to test its important resistance level of $1.675, with the outcome difficult to predict.
Technical indicators MACD and RSI are both showing a sustained rise in its price chart. This indicates an increase in bullish sentiment for the price of Stack. Moreover, the moving averages are supporting the price chart, indicating a positive outlook for the altcoin.
If the market maintains its bullish sentiment, the price of this DeFi token could test its overhead resistance at $2.135 in the coming weeks. On the downside, a trend reversal could pull the price to this month’s low of $1.230.
