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DeFi Markets Price Analysis for 25/07: LINK, SYS, ZRX

Which of the DeFi tokens (Chainlink (LINK), Syscoin (SYS), and 0x (ZRX)) could show a steady rate of growth?

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Cover image via CryptoComes.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of CryptoComes. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

The DeFi tokens are mostly trending bullish; however, this does not apply to all assets. Coins such as Ampleforth (AMPL) are growing by 20% per day, while the rate for Kyber Networks (KNC) has lost 1.18% since yesterday.

Top 10 DeFi tokens by CoinMarketCap
Top 10 DeFi Tokens by CoinMarketCap

Below is the key data for Chainlink  (LINK), Syscoin (SYS), and 0x (ZRX):

Name

Ticker

Market Cap

Price 

Volume (24H)

Change (24H)

Chainlink

LINK

$2,664,055,168

$7.61

$573,394,266

-1.36%

Syscoin

SYS

$59,874,985

$0.101314

$5,917,464

-11.47%

0x

ZRX

$276,822,520

$0.394056

$31,104,435

2%

LINK/USD 

Chainlink (LINK) is trying to maintain growth after facing a recent correction. However, the decline is likely to continue as the trading volume remains at its lowest levels.

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LINK/USD chart by TradingView
LINK/USD Chart by TradingView

Looking at the daily time frame, considering the ongoing price drop, the lines of the Moving Average Convergence/Divergence (MACD) continue to go down. What is more, the last bullish candles closed with long wicks, signaling the absence of the efforts by buyers. If the decline continues, then the bears may push LINK to $7.05 soon.

At press time, Chainlink was trading at $7.55.

SYS/USD 

Syscoin (SYS) is the biggest loser from our list. The price of the altcoin dipped by more than 11% in the last 24 hours, while the price of the coin soared by 150% from the previous week.

SYS/USD chart by TradingView
SYS/USD Chart by TradingView

Looking at the 4H chart, Syscoin (SYS) is trading in a wide falling channel. The trading volume is low; however, the liquidity is quite high, which means that the altcoin is unlikely to face a sharp drop from its current levels. The more likely price prediction is a decrease to $0.87 followed by a price bounce back. Such a scenario is relevant for the upcoming week.

At press time, Syscoin was trading at $0.1011.

ZRX/USD 

0x (ZRX) is located at the start point of a possible bullish wave. The rate of the coin has increased by 2% in the last 24 hours, while the price change in the last 7 days has dropped by -3.75%.

ZRX/USD chart by TradingView
ZRX/USD Chart by TradingView

ZRX might have touched its local support level at $0.38 where buyers have shown a bounce back. The buying volume for ZRX has increased to a certain extent; however, it is still not high enough to create new peaks. If the slight ongoing rise continues, then the bulls may push ZRX to its next crucial level of $0.4129 shortly.

At press time, ZRX was trading at $0.3959.

 

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Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@cryptocomes.com