DeFi
DeFi Tokens Should Be Buying With Cryptocurrency Rising Coming in Q3 2024
The recovery rally of Bitcoin, meme coins, DeFi tokens, etc. is gaining momentum in July, and the upcoming Ethereum ETF signals bullish days ahead. Moreover, with the US inflation data dropping, the rising rate chances could propel the cryptocurrency market higher in Q3 2024. While the demand for meme coins is quite high, DeFi token holders may see profitable days ahead. So, let’s take a look at our top picks of must-buy DeFi tokens for a bullish rally.
DeFi Tokens to Buy: Rocket Pool (RPL)
With a market cap of $413 million, Rocket Pool ranks 143rd in the list of top altcoins. The RPL token is showing a massive recovery and has increased by 42% in the last ten days.
The bullish reversal of the DeFi token breaks above the downward resistance trendline and announces a golden crossover on the 4H chart. Moreover, the recovery rally exceeds the 38.20% Fibonacci level and the $20 mark.
If the breakout rally continues to gain momentum, the RPL token offers a 36% upside potential to reach $27 or the 78.60% Fibonacci level. Optimistically, the target at the 1.618 Fibonacci level or $41 makes it a must-buy DeFi token in Q3 2024.
Convex Finance (CVX)
After taking a bullish stance at the psychological $2 mark, CVX price is hinting at a trend reversal rally. Defying the 50D EMA, the upcoming bull run for Convex Finance token is fraught with obstacles.
However, the DeFi token’s double bottom reversal could soon challenge the overhead resistance trendline. Moreover, CVX price has increased by 18% in the last ten days.
With the bullish crossover of the MACD indicator, the chances of a breakout of the CVX token increase. This makes it a must-have DeFi token, with a 120% surge to $5.50 with the breakout of the trendline.
Financing of aerodromes (AERO)
With over half a billion dollars in market cap, Aerodrome Finance is the 208th largest cryptocurrency. With a bullish reversal, the AERO token price has increased by 137% in the last two weeks.
According to the trend-based Fibonacci levels, the uptrend is heading towards the 50% level at $1.39. Currently, the DeFi token is trading at $1 and is showing an intraday growth of 8.49%. Moreover, the bullish crossover of the MACD and signal lines strengthens the chances of an uptrend.
With an upside potential of up to $2.37, Aerodrome Finance token is a high-potential DeFi token that is a must-buy in Q3 2024.