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, DeFi Forecast: What can we expect from the main DeFi in this August?, Forex-News, Forex-News
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DeFi Forecast: What can we expect from the main DeFi in this August?

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, DeFi Forecast: What can we expect from the main DeFi in this August?, Forex-News, Forex-News

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, DeFi Forecast: What can we expect from the main DeFi in this August?, Forex-News, Forex-News

The crypto market gets off to a good start in August, and the DeFi segment is not far behind, the behavior of the main tokens cast a good forecast.

The decentralized finance sub-ecosystem begins the month led by AAVE V2, who has a locked value of $ 10.5 billion.

In 2nd place we find Compound thanks to a locked value of $ 9.8 billion. In 3rd place is Curve, with a locked value of $ 8.8 billion.

, DeFi Forecast: What can we expect from the main DeFi in this August?, Forex-News, Forex-News

These three DeFi and the rest add up to a grand total of $ 86.8 billion, a figure that has seen a big setback in recent months, but is already beginning to show strong intentions to regain its uptrend.

, DeFi Forecast: What can we expect from the main DeFi in this August?, Forex-News, Forex-News
Total locked value and main DeFi at the beginning of August. Source: DeBank.

To get an X-ray of what is happening with this market segment, and find out where it can be headed, he then performed a technical analysis of the main tokens.

DeFi Forecast August 2021

AAVE technical analysis

We start with the current leader in the DeFi segment. The native token of the Aave platform is trading at $ 322.81, accumulating a loss of 0.37% in the last 24 hours.

The week is starting and we are not seeing too much volatility yet. However, the recently made high low above $ 250, and the break of a diagonal resistance, appears to be heralding further gains in the near term.

The forecast for this DeFi is so far quite positive, due to the clear formation of an inverted Shoulder Head Shoulder, which may be resuming the major uptrend.

Now AAVE will have to face resistance located at $ 365. If he manages to cross it, the land will be cleared up to $ 542. Even waiting for new all-time highs is not far-fetched.

To think about sales, support must be lost at $ 250.

, DeFi Forecast: What can we expect from the main DeFi in this August?, Forex-News, Forex-News
DeFi Forecast. Weekly chart AAVE vs USDT. Source: TradingView.

Compound technical analysis

The scenario that shows the price of COMP is quite similar to that of AAVE. An Inverted Shoulder Head Shoulder looks well formed.

Compound is currently trading at $ 422.52, accumulating a 4.76% gain in the last 24 hours.

The recent creation of a higher low, the rejection of low prices, and showing strong buying intent should take us higher.

Resistance at $ 464 must be broken to confirm that the bulls have regained control. But the current scenario already throws a good forecast for this DeFi.

To think about selling, the support at $ 340 must be lost, and at the moment this is an unlikely scenario.

, DeFi Forecast: What can we expect from the main DeFi in this August?, Forex-News, Forex-News
DeFi Forecast. COMP vs USDT weekly chart. Source: TradingView.

Curve technical analysis

The CRV token is currently trading at $ 1.63, accumulating a 4.60% loss in the last 24 hours.

Unlike the other two tokens, this one still doesn’t show much bullish determination.

However, the constant inability to set new lows after a big drop may be indicating that the bottom has already been reached, and we could soon see a resumption of the previous trend.

The Curve token will need to break through the diagonal resistance that I mark on the chart below, to give us a confirmation that the bulls are back.

If the support at $ 1.32 is lost (unlikely), we would be announcing a deeper correction.

All our publications are informative in nature, so in no case should they be followed as investment advice.

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, DeFi Forecast: What can we expect from the main DeFi in this August?, Forex-News, Forex-News

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