Ethereum price has just hit a new all-time high on Coinbase and the DeFi market is following closely. In the past week, there are several DeFi projects that have experienced gains higher than 100%.
Uniswap price has also hit a new all-time high at $9.93 today reaching a total market capitalization of $2.4 billion. Similarly, Chainlink price also established a new all-time high at $23.76 and bulls are keeping the digital asset above $20.
On the other hand, Band price seems to be ready for a breakout towards a new all-time high.
Uniswap price reaches new highs
UNI price had a massive breakout on January 13 climbing 13% within 24 hours. Amazingly, the digital asset had a ton of bullish continuation in the next few days finally reaching a new all-time high at $9.93 today.
As long as the bulls can hold the 26-EMA, the uptrend will remain intact as UNI price aims for new highs. Considering the digital asset is in price discovery territory and Ethereum has reached new all-time highs as well, the likelihood of Uniswap rising higher is certainly strong.
Chainlink price consolidates after new all-time high
It’s not surprising to see Chainlink drop by almost 15% in the past two days after a significant rally towards a new all-time high at $23.76. This pullback should be considered healthy as the daily 12-EMA is still below $20 at $18.7 currently.
Optimally, bulls would want to defend the 12-EMA and then see a rebound from there into a new high. However, as long as the 26-EMA is held, the uptrend can continue.
Band Protocol price needs to crack this resistance level
Unlike the other two DeFi projects in our list, BAND price hasn’t yet hit a new all-time high and it’s currently trading at $9.7, way below $17.78. The digital asset faces a critical resistance level at $10.8 which seems to be the key for that new all-time high as there is very weak opposition above this point.
So far, on the daily chart, bulls have defended the 12-EMA on several occasions and it seems that a rebound above $10.8 could be likely considering the strength of the entire market.