Amid the broader market turning bullish, the lack of confidence is evident, with Bitcoin struggling near $60K. However, the DeFi tokens are surprisingly ignoring the market noise as the smart money anticipates a bull run in the DeFi space.
As the top DeFi tokens prepare for a breakout run with the ongoing reversal gaining momentum, here are the top choices to buy.
Top DeFi Tokens To Grab:
Fantom (FTM)
With a bullish reversal from the $0.29 support level, Fantom concludes the long-coming bearish trend. With the reversal run gaining momentum, the FTM price surpasses the 50D EMA. As the resistance trendline is formed by the lower high formations.
The bullish reversal results in an uptick in the 50D EMA and forms a bullish engulfing candle with a 15% surge. Further, the DMI indicator shows a positive crossover in the VI lines and a potential bullish reversal in the ADX line.
Hence, the rising momentum in Fantom teases a breakout rally at breakneck speed. With the next resistance at $0.49 or the 23.60% Fib level, a breakout run can help the FTM price hit the $0.62 supply zone. Hence, the upside potential in the DeFi token stands at 40%.
Uniswap (UNI)
In the 4-hour chart, the bullish reversal in the UNI price reveals a surge in underlying momentum. As the uptrend breaks above the 50 and 200 EMA in the 4-hour timeframe and the 50% Fibonacci level.
In the last 24 hours, the UNI price has increased by 13% and is ready to surpass the $7 mark. Further, the momentum indicators showcase a bullish uprising in the MACD indicator.
A bullish rally in the Uniswap prices showcases a potential surge to the 100% Fib level at $8.592. Optimistically, the uptrend can reach the 1.618 Fib level at $10.84.
Chainlink (LINK)
With a potential end coming for the correction phase, the LINK price teases a bullish trend in a falling wedge pattern. Further, with a rounding bottom reversal in the bull cycle, the LINK price shows a 14% surge, resulting in consecutive bullish candles.
Along with the bullish crossover in the MACD indicator, the VI lines showcase a bullish crossover. Hence, the momentum indicators bolster the possibility of a bull cycle.
Based on the increasing momentum of the reversal rally, the Chainlink price can reach the $16.75 mark post-breakout.
