DeFi Tokens Increase As Bitcoin Price Stops At $16,000

Most of the Defi tokens increase as the Bitcoin price topped near the $16,000 price range as well as ETH and the rest of the larger-cap altcoins calmed from their rallies. The leading Defi tokens increase and gain remarkable double-digit price increases in the past week so let’s look at the price analysis in our crypto news.

Although Bitcoin recovered from the two drops beneath $16,000 over the weekend, the asset still had a hard time reclaiming the coveted price level and the areas between $16,000 and $16,250. The larger-cap altcoins lost some steam as well but most Defi tokens surged in value. Bitcoin’s amazing performance lately brought the asset from its lows of $15,100 just a few days ago, to yearly highs of $16,500 last Friday. The community started to prepare for further increases which only led to a new all-time high lower than $20,000.

However, it seems that the main cryptocurrency stalled after the recent gains since it lost more than $450 in a few hours yesterday and slipped to its intraday low of $15,750. The bulls were quick to intercept the price drop and helped the benchmark cryptocurrency in reconquering the $16,000 price point again. As of now, BTC trades above the said level which is also the first major support line. From a technical point of view, it BTC drops below again, it could find more support at $15,600 and the $15,450. The main cryptocurrency has to overcome the resistance levels at $16,150 before trying to get to another yearly high.

Most alternative coins are in the red now as Ethereum lost nearly 2% in the day and now trades below $460 after hitting $480 a few days ago. Chainlink, Litecoin, Bitcoin Cash, Cardano, and Polkadot also decreased. The situation with the mid-caps tokens from the decentralized finance field is different. SushiSwap is the most impressive gainer since a day ago with the 28% surge as SUSHI increased by 100% over the past seven days and is now trading at nearly $1.2. UNI is the native token of UNIswap which is in the deep green after the staking period finished over the week.

ThorChain increased by 21% in one day and 70% in a week. ABBC coin increased by 20%, Curve DAO Token increased by 16%, AAve by 14%, Loopring by 10%, and Synthetix by 10%.