Top DeFi Tokens To Buy Amidst November Rally: LDO, ENA, AAVE
- Barbara StreisandOriginal
- 2024-11-07 18:46:27460browse
As Bitcoin crosses above the $74,000 mark amid Trump's political win in the United States presidential elections, the altcoins are on a bull run.
As Bitcoin crosses above the $74,000 mark amid Trump’s political win in the United States presidential elections, the altcoins are on a bull run. Among the altcoins, the DeFi tokens are signaling breakout rallies and registering double-digit gains.
As the November rally picks up pace, will the DeFi tokens become the superstars of this bull market? Well, with the increased chances, here are the top DeFi tokens you must consider buying for massive returns.
Top DeFi Tokens To Buy
Lido DAO (LDO)
Despite being in a falling channel pattern, the recent bullish reversal in the LDO token is signaling a potential breakout. The new bull cycle in the LDO token accounts for three consecutive bullish candles, registering a 47% surge from $0.93 to $1.
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As it approaches the 200-day EMA at the critical mark of $1.50, the buyers are anticipating a breakout rally in LDO tokens. Based on the price action, the upside target for the DeFi token is present at $2.52 and $3.70.
Hence, with a massive upside of nearly 170%, this is a DeFi token you must consider buying.
Ethena (ENA)
Given a bullish breakout of a triangle pattern in the daily chart, the ENA token is on a breakout run. The price jump from the 23.60% Fibonacci level is challenging the 50% level as it reclaims the $0.50 psychological mark.
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The DeFi token has increased by 62.34% from its seven-day low of $0.31. Currently, it is trading at $0.544 and preparing for the 50% level breakout.
As it crosses above the 50-day EMA, the triangle breakout rally will likely challenge the 78.60% Fibonacci level close to the $1 psychological mark. Meanwhile, the triangle breakout rally has improved the chances of the DeFi token reaching the $1.46 mark or the pinnacle of the triangle pattern.
Hence, with a massive upside of 184%, this is a DeFi token you must consider buying. The MACD indicator gives a positive crossover as the bullish influence grows.
Also read: Find out how high the ENA price will surge in this bull run in Coinpedia’s Ethena Price Prediction for 2024 to 2030.
AAVE (AAVE)
Crossing above the $180 level, the Aave token has increased by 45% in the past 3 days. Currently, the DeFi token is trading at $182 with an intraday gain of 4%.
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As the bullish trend gains momentum, the MACD and signal lines give a positive crossover. Thus, the possibility of Aave crossing above the $200 psychological mark increases.
Currently, the immediate resistance for the DeFi token stands at 1.618 Fibonacci level, priced at $213.97. As the broader market recovers, a breakout rally in Aave will likely reach the 2.168 Fibonacci level at $398.
Hence, with an upside potential target of more than 100%, this is a DeFi token you must consider buying in this November rally.
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