Published 12 hours ago
The crypto market has been in a steady downtrend for more than a year now and has tumbled numerous crypto coins by a significant amount. As a result, some of the Top DeFi Coins are heavily discounted, offering an entry opportunity for investors to grab them at cheap rates. Here is a list of coins that may offer massive returns in 2023.
Uniswap(UNI)
Source- Tradingview
Amid the ongoing downtrend, the Uniswap(UNI) price can have tumbled 87.06% from its all-time high of $44.97. Currency, this altcoin trades at the $5.8 mark and is trapped in an eight months consolidation.
If this consolidation ends on a bullish note, the investors may witness an upswing to $13.7 by the end of the first Quater of 2023. A breakout from this resistance will signal a possibility for significant recovery, which may lead prices to $31.5 by the two following quarters.
Chainlink(LINK)
Source-Tradingview
The Chainlink coin price currently trades at $6.5 and witnesses an 87.6% loss from the All-time high of $52.8. However, the coin price has been resonating in a rectangle pattern for the past eight, and a breakout from its $9.6 could trigger a significant recovery.
If the market sentiment improves in 2023, this DeFi token could surpass $30 by the mid-year.
Aave(AAVE)
Source-Tradingview
From its all-time high of $666.86, the AAVE price has witnessed a downfall of 91.17 and currently trades at the $58.8 mark. However, the buyers defended the $50 psychological support, which bolstered a sideways rally in the monthly chart.
If the bullish momentum replenished bullish momentum at this support, a breakout from $115 would be an early sign of recovery. A breakout from the mentioned level may push the price to $250 by mid-2023.
Fantom(FTM)
Source-Tradingview
The Fantom coin witnessed an aggressive downfall after hitting an All-Time high of $3.48 in October 2021. The falling price registered a 93.47% loss and plummeted the prices to their current price of $0.22.
However, the altcoin shows a sluggish sideways movement above $0.194, indicating the exhausted bearish momentum. Furthermore, a potential upswing from mentioned support may push the price to the breached support of 0.786 Fibonacci retracement level at $0.8.
A breakout from this barrier may bolster a significant recovery that may reach the $1.75 mark by late 2023.
Curve Dao(CRV)
Source-Tradingview
The Curve Dao coin price plunged 91.4% from the Jan 2022 high of $6.8. Amid this downfall, the coin price retested the $0.4 mark and showed sustainability above this long-coming accumulation zone.
If the CRV price bottom at this support, the investor could witness an upswing to the $1.57 barrier by the end of the 2023 first quarter. A bullish breakout from this resistance will be a key milestone to achieve, as it could bolster a price rally to surpass $3.5 in the coming year.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source: https://coingape.com/markets/top-5-defi-coins-that-may-boom-in-2023/