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With the Bitcoin market remaining very weak, crypto investors are out looking for alternatives and the best Altcoins to invest in for the next bull run in the Altcoin market.
In this article, we will be analyzing two De-fi projects with amazing growth and trading potentials namely: Polkadot, and Yearn. finance.
Polkadot is a successful De-fi project that has been gaining a lot of momentum recently. Since its lunch, Polkadot as rapidly risen among the ranks to become the seventh-largest cryptocurrency with a market capitalization of $3.9million and growing.
The Polkadot project enables transfers of any type of data or asset, not just tokens across a wide variety of blockchains, be it a public, open, permissionless blockchains as well as private, permissioned blockchains.
Polkadot Technical Analysis. Is This A Good Time To Buy?
The Dot/BTC price is currently trading in a descending channel. This pattern is a very bullish pattern which means there is a very high probability for the Polkadot price to breakout to the upside.
Currently, the DOT/BTC price is bouncing off the base of the descending channel with a high probability of the price heading higher to the 0.02974 resistance.
This resistance might prove a little difficult for the Polkadot price to breakthrough and there is a very high likelihood we might see a price fail and crash back down in the coming days.
Levels To Watch For The Start Of The Next Bull Run?
The most important level to watch for the start of the next bull run on Polkadot is the break of the 0.032000 horizontal resistance. This could see the Polkadot price soring past the previous high and pushing higher in the coming days.
Yearn Finance is also top on our watch list as one of the most popular De-fi projects taking the crypto industry by storm.
In less than a month, this Altcoin experienced more than 435% growth, pushing the coin from obscurity into the rank as the 24th largest cryptocurrency in the crypto market with a market capitalization of $932,828,893 USD. But what is Yearn Finance and what is causing this rapid growth in the coin?
Yearn Finance is a portal/gateway to various De-Fi products. And given that De-Fi now has nearly $8 billion in crypto assets committed to it, mainstream traders could use Yearn Finance as a front door into this De-Fi investment world.
Yearn Finance Technical Analysis. Is This A Good Time To Buy?
The Yearn Finance price recently broke through a descending channel, clearly pointing to the presence of buyers in the Altcoin. However, it is not an all-clear for the Altcoin as the YFI/BTC price is currently running into a horizontal resistance at 3.0115
A break of this price resistance could see the YFI/BTC price soaring past the previous highs in the next few days. However, a price failure and crash from this level could see a deeper retracement in the YFI/BTC price.
To gain more information on how to partake in this coming Bitcoin Bull run and trade this cryptocurrency, you can read my How To Trade Bitcoin Guide. You can also check my top list of Best Bitcoin Exchanges To Trade With.