NEM, YFI, UMA, and COMP Price Analysis for August 29

Can DeFi tokens outperform the big players?

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The cryptocurrency market is again in the green. The biggest gainer is Chainlink (LINK), in which the rate has increased by 5.69% in the last 24 hours.

Top 10 coins by CoinMarketCap
Top 10 Coins by CoinMarketCap

Below are the key statistics for NEM (XEM), Yearn.Finance (YFI), UMA, and Compound (COMP):



Market Cap


Volume (24H)

Change (24H)



$1 071 779 198 $0,119087 $147 672 022 22.65%



$596 190 484 $19 897,70 $213 767 123 14.38%



$605 140 866 $11,23 $19 135 887 0.93%



$485 742 604 $189,65 $111 485 105 0.83%


NEM (XEM) is the biggest gainer from our list. The rate for the altcoin has skyrocketed up by 22.65% since yesterday, while the price change from the last 7 days has almost reached the 50% mark.

XEM/USD chart by TradingView
XEM/USD Chart by TradingView

NEM (XEM) has confirmed the start of a long-term bullish trend; however, a slight correction is needed in order to gain more strength and maintain growth. Even though the trading volume is high, the liquidity is low, which means that the bears might seize on the initiative in the short-term. What is more, a bearish divergence has been formed, which means that a drop to the nearest support level at $0.1053 is possible.

At press time, XEM was trading at $0.1171.


Yearn.Finance (YFI) has also significantly increased since last time. The rate for this popular DeFi token has increased by 14.38% in the last 24 hours. The price has even surpassed the price of Bitcoin (BTC).

YFI/USD chart by TradingView
YFI/USD Chart by TradingView

From a technical perspective, the coin is trading in a similar fashion to Chainlink (LINK) as a correction is also the most likely scenario, and the Relative Strength Index (RSI) is already located in the overbought zone. Furthermore, the volume is on the decline, which confirms the possible drop. If that happens, then a decrease will happen until the token reaches the $14,000 mark.

At press time, YFI was trading at $20,400.


The rate for UMA has not increased as much as the aforementioned tokens. The rise has only constituted a 0.93% since yesterday.

UMA/USD chart by TradingView
UMA/USD Chart by TradingView

Although the rate for the token has increased slight, it has already entered a correction phase after failing in its attempt to fix above the $15 mark. Moreover, the selling volume is high, which means that the bears are not going to give up and are going to continue pushing the rate down. Furthermore, the liquidity is high between the $5-$7 range. All in all, a decrease may last at the support level of $8.9.

At press time, UMA was trading at $10.67.


The same situation is applied to Compound (COMP), in which the rate has risen only 0.83%.

COMP/USD chart by TradingView
COMP/USD Chart by TradingView

Compound (COMP) has successfully bounced off its support level at $170, confirming the presence of bulls. Furthermore, the liquidity is high above the mark and a rise is more likely than a drop.

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If the market remains in the positive-neutral zone, then the next target is around $200.

At press time, COMP was trading at $189.

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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 [email protected]