Best Performing DeFi Coins Now: Syscoin, Injective Protocol and Near Protocol Price Analysis
With Bitcoin displaying southbound movement, some DeFi coins have soared and made headlines in the past few days. These altcoins come with less liquidity and often more volatility, giving investors a chance to make profits over a short span of time. Out of the best performing cryptocurrencies, Syscoin, Injective Protocol and Near Protocol have managed to grab attention. Here’s an analysis of how they have performed over the past few days.
SYS/USD Chart In The 4-hour Time Frame
In recent news, Smart Contracts will soon be introduced on Syscoin and the coin propelled 16.8% over the last 24 hours. At press time the coin was priced at $0.644 with immediate resistance at $0.684, if Syscoin continues to move upwards, it could trade near $0.780 which is the one-week high for the coin. The altcoin reversed 16.8% of the losses that it incurred over the last week.
The buying strength also increased as prices rose, on the Relative Strength Index the indicator was seen above the half-line after a week. The On Balance Volume was also seen increasing on the four-hour chart indicating an uptrend. Bollinger Bands remained parallel with chances of volatility remaining in check, prices would remain sandwiched between $0.644 and $0.524.
On the flip side, if Syscoin fails to hold itself over $0.524 then it could dip to trade close to its support level of $0.386. The other support level stood at $0.345.
INJ/USD Chart In The 4-hour Time Frame
Injective Protocol was priced at $9.69 after securing a gain of 13.8% over the last 24 hours. Immediate resistance for the coin stood at $9.85, toppling over which it could trade near its one week high of $11.01. As buying pressure had managed to revive, at press time, the buying strength dropped as investors have held on to their assets in anticipation of a price increase.
Awesome Oscillator displayed bullishness with green histograms. The On Balance Volume noted an uptick and if buying pressure manages to remain above the zero-line, the coin can remain positive over the upcoming trading sessions. The Relative Strength Index remained on the half-line highlighting even the number of buyers and sellers.
On the flip side, Injective Protocol’s local support lay at $8.46.
NEAR/USD Chart In The 4-hour Time Frame
Near Protocol surged 6% over the past day and was priced at $10.33 with immediate resistance at $10.37. The trading volume of the coin also increased over the last 24 hours. If the crypto manages to break over its immediate price ceiling, it can attempt to trade near its all-time high which it secured a month back and a half back.
Just a few days back, Near Protocol registered overbought conditions. The Relative Strength Index was still near its overbought territory as investors have rushed in to get hold of the coin. Chaikin Money Flow made a bounce back as capital inflows have picked up after it dipped just a day back.
Awesome Oscillator flashed one green signal bar highlighting bullishness. On the reverse, Near Protocol’s support line stood at $9.23, failing to remain over which the coin can fall to $8.29. Additional price floors awaited the coin at $6.90 and $5.89.Source