Analyzing The Performance Of Top Three Defi Coins This Week
- DEFI Sector:
- Current market capitalization of $418.14 Million with a daily trading volume of $19.57 Million.
- Two out of the top three Defi coins experienced losses this week.
- Kadena and Spell Token slumped over 17% while Uquid Coin broke even.
- Kadena Crypto:
- Utilizes a DAG and proof-of-work for high throughput.
- Has been in a bearish trend since April 2024, facing resistance at key EMAs.
- Ranks 266th in the cryptoverse with a market capitalization of $163.92 Million.
- Spell Token (SPELL):
- Incentive token for abracadabra.money lending platform.
- Market capitalization of $103.44 Million, fallen by over 18.3% weekly.
- Price crashed in June below annual lows, with a bearish short-term outlook.
- Uquid Coin (UQC):
- ERC20 token enhancing the UQUID Ecosystem.
- Technical analysis shows a bearish trend below moving averages.
- Price struggling near $5 support level, may decline to $4.3 or rise to $6.5 and $8 levels.
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Technical Analysis for DEFI
Technical Sentiment Analysis for DeFi (DEFI) As of , DeFi (DEFI) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 4 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for DEFI stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, DEFI is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
DeFi (DEFI) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.000204 | 0.000249 | 0.000293 | 0.000338 | 0.000382 | 0.000427 | 0.000471 |
| Fibonacci | 0.000249 | 0.000283 | 0.000304 | 0.000338 | 0.000372 | 0.000393 | 0.000427 |
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