- DeFi tokens like MKR, AAVE, COMP, and Loopring have jumped recently.
- The view is that DeFi platforms will thrive as regulators crackdown on centralized platforms.
DeFi tokens are doing well this week as investors place bets on the industry. AAVE price jumped to the highest level since April, meaning it has jumped by more than 60% from its lowest level in June. Similarly, Maker price soared to a high of $1,075, the highest point since October last year. Other tokens like Curve DAO, Compound, Convex Finance, and Loopring have also gained traction.
Maker price prediction
Maker is a leading player in the decentralized finance industry. It is the third-biggest DeFi platform with a total value locked (TVL) of more than $6.5 billion. The other bigger DeFi dApps are Lido and Aave.
Maker is best known for its stablecoin, Dai, which has a market cap of over $4.6 billion, making it the 17th biggest cryptocurrency in the world. It is the third-biggest stablecoin after Tether and USD Coin.
The daily chart shows that the MKR price bottomed at $490 in January and then retested the same point in June. It has now staged a strong comeback and moved above the crucial resistance level at $977, the highest point in March.
Maker has also remained comfortably above the 50-day and 100-day moving averages, which is a positive thing. It is also nearing the key level at $1,150 (October 19 high). The Relative Strength Index (RSI) has moved to the extreme overbought level of 83.57, highest point since 2021.
Therefore, the coin will likely continue rising as buyers target the key resistance point at $1,150, which is about 12% above the current level.
AAVE price prediction
AAVE is the second-biggest DeFi protocol in the world. It is also the biggest decentralized lending network with a TVL of over $9.26 billion. AAVE exists in numerous chains, including Ethereum, Polygon, Avalanche, and Arbitrum. Its token has jumped recently as the TVL has soared by more than 12% in the past 30 days.
AAVE price has moved above the important resistance point at $64.75, the lowest point on March 10th of this year. It has also flipped the descending trendline into a support. This trendline connects the highest points since February this year.
At the same time, AAVE has moved comfortably above the 25-day and 50-day exponential moving averages. The Relative Strength Index has moved above the overbought level. Its relative volume has also been rising.
Therefore, the AAVE token price will likely continue rising as buyers target the next key resistance at $95.21, the highest point on February 2nd.
Read more: How to buy Aave token.
