Which DeFi Tokens You Should Buy in July

Key Takeaways: 

CVX Token: 

Shows potential growth within a bearish channel. 

• Bullish indicators suggest a recovery rally. 

AAVE Token: 

• Struggling near $100 but showing signs of breaking free from bearish trends. 

• Potential to reach $150 if the bullish trend continues. 

CVX Token Analysis: Trapped in a Channel 

The weekly chart for CVX shows a generally downward trend. This has created a bearish channel. Currently, CVX is in a bullish cycle within this channel. 

• Current Price: $3.18 

• Overnight Price Jump: 8.62% 

The fight between demand and supply is intense, reflecting high volatility. Signal lines and the MACD point to a bullish crossover. The RSI line is close to surpassing 50%, indicating potential growth. 

• Short-Term Target: $4.50 

• Optimistic Target: $7.62 

Here’s a summary of the CVX token’s key metrics: 

AAVE Token Analysis: Overcoming Bearish Patterns 

The AAVE token has been stuck near the $100 mark. A head and shoulders pattern formed with a trendline acting as the neckline. But recent trends show underlying demand at lower levels. This demand is helping AAVE break free from bearish patterns. 

• Current Price: Hovering near $100 

• Weekly Price Jump: 16% 

The MACD indicator shows a bullish crossover on the horizon. If the trend continues, AAVE can reclaim the $100 mark and potentially reach $150. 

Conclusion 

Despite the slump in major cryptocurrencies, DeFi tokens like CVX and AAVE are showing promise. Their recent price jumps and bullish indicators hint at a possible recovery rally. Keep an eye on these tokens as they might lead the way in the upcoming bull market.