DeFi Tokens LINK, UNI, and YAM Continue to Shine

Following the controversial alt season narrative, many analysts are pushing the notion that bitcoin is expected to step aside while altcoins of various categories rule the entire crypto markets. 

Although bitcoin hasn’t moved much this period, many alternate cryptocurrencies (altogether known as altcoins) are taking rounds of impressive jaw-breaking gains. 

As it seems more of these turnouts of events are still underway, our market watch series will bring you to identify these coins and speculate accordingly.

Below are some of the top gainers since the last 24 hours.

#1. ChainLink (LINK 15.12% Gain):

Being first on this list, we have Chainlink. This significant cryptocurrency which has already delivered more than 15.12% gain within the last one week is noting additional gains this time.

Abundant traders are bullish on LINK and prices may behave very bullish in the short term.

The coin is up by over 720% in the last year and roughly 122% within the last month. Although it forfeited 0.4% in the last hour, LINK is positive in the daily timeframe.

Technical Indicators

  • Next major resistance at $12
  • Next major support level at $9.5
  • Resistance Strength Index entered the 70.0 overbought condition and may drive prices down in a possible correction.

LINK is trading at $9.61 and its market cap is fluctuating around $3.61 billion.

#2. Uniswap (UNI 6% Gain):

UNI airdropped at least 400 Units of UNI tokens to thousands of users. While this caused great excitement among crypto enthusiasts lately, the coin also caught a bullish momentum.

UNI coin gained around 6% since yesterday. The coin has an excellent market sentiment among traders voting for a prolonged bull market as the quarter proceeds.

In the 24-hour timeline, the coin is up almost 6% and the bullish movement seems to still be intact.

Technical Points

  • General price trend is bullish
  • Major price support is set at $5.0
  • Next level of possible resistance lies at $6.

At the time of writing this piece, UNI is trading at $5.12. Its market cap is hovering around $663 million.

#3. YAM Finance (YAMV2 1% Gain):

According to stats available on CoinMarketCap, the YAMV2 token is now trading around $10.5. This presents a considerable 17% loss in the 24-hour timeframe. 

The market capitalization of YAM remains fairly constant at around $65 million as of the time of writing. This was a plunge from $475 million in about one month ago. 

YAMV2 remains relatively constant in market sentiment with a 60% market optimism. Although, there are 40% chances that its markets may plunge into the maturity of the trading day. 

Technical Indicators:

The YAMv2 tokens are currently riding an intense bear market. The tokens plunged through a series of support levels, eventually crashing below the $18 area as of today. 

  • Next level of major resistance lies at $11
  • Next key support level at $10
  • RSI levels out at the 40.0 level.

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