Uniswap and Aave enjoyed a massive 70% hike in market value in recent days due to the DeFi’s ever-growing influence in the industry. We reported last week how the sector of the crypto industry keep gaining new institution and private investors daily.
The recent turnaround experienced in the Defi sector has also brought a great fortune to many DeFi assets, including Uniswap and Ave. On its part, Uniswap began a surprising bullish run last week when it saw a massive improvement in its price value. Having sold for just $7.60 on the 22nd of January, the DeFi coins surprisingly reached a price of $13.30 before the end of the week.
Uniswap could fail to maintain bullish runafter reaching an all-time high
Having reached its all-time high of $13.30, UNI seemed to have taken its feet off the pedal since the start of the week. The token isn’t faring too well in the market as revealed in its 9-hour chart. According to the Tom Denmark Sequential indicator, the crypto industry is hovering in an overbought region which could largely affect Uniswap’s performance in the long run.
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The metrics provided by TD revealed a sell signal on the token’s 9-hour chart, suggesting a new downward countdown. However, the sequential indicator claimed the token could rely on the increased selling pressure to regain its strength as soon as possible
The Token’s 9-hour chart also revealed that TD’s predictions are completely accurate, which means Uniswap needs to find a way to turn around its recent underwhelming performance in the industry. In the same vein, AAVE, which did extremely well in terms of market value last week, has equally seen a reduction in its evaluation in recent DSS days. It should be recalled that the token experienced a massive 80% increase in price on January 22nd setting a new record of $290 in the process. Unfortunately, AAVE couldn’t maintain its steady growth and value since the start of the week.
Yearn to witness massive turnaround in fortune
Contrary to the performance of the two cryptocurrencies, Yearn Finance hasn’t been fearing too well for a while. It has managed only a 29% increase in its overall financial value since January 22; however, that is expected to change from now.
Also known as YFI, the Yearn Finance is tipped to experience a hike in its financial status which could bring its market value to $50,000 in the nearest future. According to a post released by TD, a high number of investors are beginning to add more tokens to their Yearn finance account which could eventually lead to a hike and spike in its overall financial status.
To further buttress its prediction, the analytic firm revealed that the pressure behind FYI selling continues to increase exponentially, which could eventually lead to a higher financial value and the level of adoption by Crypto traders and investors. Should the Yearn Finance maintain its selling pressure for a long time, it will become one of the most utilized digital assets in the world.