Will These DeFi Tokens Surge 10X This Altcoin Season?


With an optimistic surge in Bitcoin prices, bulls anticipate a breakout run above the $65000 mark. Amidst the growing confidence in the market, the DeFi tokens prepare for a bull run as the altcoin season inches closer.

As the demand grows in the crypto market with increased chances of rate cuts, the crypto prices are on the cusp of a moonshot. So, let’s look closer at these DeFi tokens with a 10x potential in the next altcoin season. 

Top DeFi Tokens Surge 10X:

JITO (JTO)

With a triangle breakout in the daily chart, JITO price action concludes the short-term bearish phase. Bouncing off from a newly formed support trendline, the JTO price surpasses the 50D EMA and challenges the 200D EMA.

Jito Price Analysis
Jito Price Analysis

Based on the Fibonacci levels, the bullish trend tests the 38.20% level at $2.713. Currently, the DeFi token trades at $2.701 following the overnight jump of 10.96%, forming a bullish engulfing candle. 

Further, the JTO price reveals a double bottom reversal with a neckline at 38.20% level. A breakout rally above the neckline will propel the JTO price to the 52-week high at $4.882. In the long term, the Fibonacci level puts $8.78 and $22.72 on the radar for a 10x potential. 

0x Protocol (ZRX)

Similar to JITO, the 0x protocol token shows a new bullish uprising with a seven-day streak of bullish candles. The upcycle in the ZRX price accounts for a 17% surge and results in a long-coming resistance trendline breakout. 

Ox Price Analysis 24th aug 
Ox Price Analysis 24th aug

Furthermore, the uptrend surpasses the 50D EMA, and the bullish influence gives a positive crossover in the VI lines. Based on the Fibonacci levels, the breakout rally can find the 23.60% level with the 200D EMA as the next critical resistance. 

A breakout run above this level will increase the likelihood of the DeFi token gearing up to reach $1.33. Optimistically, the bull run in the altcoin season could find the 1.618 level at $3.71 within reach. 

Loopring (LRC)

With a double bottom reversal from the $0.01182 support level, the uptrend in the LRC price reflects strong momentum. The bullish uprising challenges the overhead trendline of a falling channel formed during the correction phase.

LRC Price Analysis 24 augLRC Price Analysis 24 aug

Further, the bullish crossover in the VI lines and the 24% hike in 7 days increase the chances of a breakout run. Based on the Fibonacci levels, the uptrend in the DeFi token can reach the 50% level at $0.2525 next week. In the altcoin season, the uptrend can reach the 1.618 Fibonacci level at $1.37. 



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