Top 3 DeFi Tokens with Bullish Setup could Explode in April 2023

While the broader market sentiment struggles with uncertainty and a majority of the crypto coins have witnessed significant correction in the last two weeks. Despite this downfall, we have hand-picked some of the Defi tokens showcasing strong bullish patterns. This technical setup should bolster the following tokens to resume their bullish recovery in April 2022

Uniswap(UNI)

Source- Tradingview

The Uniswap price has been moving sideways for the last seven months, fluctuating between a low of $4.7 and a high of $7.8. This rectangle pattern presents two opportunities for traders to enter long positions: one near the support level of $4.9 for a bullish reversal trade, and another when the price breaks out above the $7.8 mark.

As of now, the UNI price traders at $6 and continue to consolidate in a narrow range as the market struggles with uncertainty. If the negative sentiment builds up, the UNI will likely revisit $4.9 where traders can find an opportunity to reaccumulate.

Also Read: Top 6 Liquid Staking Platforms On Ethereum

Internet Computer(ICP)

Source- Tradingview

In the last four weeks, the Internet Computer coin price rebounded twice from the $4.65 support level indicating the buyers are actively accumulating at this support. In the daily time frame chart these two reversals reflected the formation of a double bottom pattern.

Under the influence of this pattern, the ICP price gained 12.5% in the last four days and is currently approaching the $5.78 neckline resistance. A potential bullish breakout from this resistance will intensify the buying pressure to rechallenge the $7.668 swing high resistance.

Theta(THETA)

Source- Tradingview 

In the daily time frame chart, the Theta price shows the formation of a cup and handle pattern. In response to this pattern, the coin price witnessed a U-shaped recovery from 1st January to mid-February, followed by a correction phase which is called the handle portion.

As of now, the Theta price has recently bounced back from local support of $0.973-$0.965 and surged 9% to reach the current price of $1.49. With sustained buying, the Theta price will rise 20% to challenge the $1.3-1.33 neckline resistance.

The post Top 3 DeFi Tokens with Bullish Setup could Explode in April 2023 appeared first on CoinGape.

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Brian Bollinger
CoinGape