As the cryptocurrency market continues to evolve, several DeFi coins have emerged as strong contenders for investors seeking profitable opportunities. Among these, Chainlink (LINK), Avalanche (AVAX), and THORChain (RUNE) have shown significant upward momentum, with bullish predictions from experts. Here’s an analysis of why these tokens are considered the best token to buy now.
Chainlink (LINK) Shows Strong Growth Potential
Chainlink (LINK), a prominent DeFi coin, has been trading positively, with a year-to-date (YTD) price increase of over 150%, according to CoinMarketCap data. Crypto analyst Michaël Van De Poppe suggests that if Chainlink can break the resistance at $21, it could reach $25-30. Technical indicators are also optimistic for LINK, with 29 indicators giving positive signals and the coin trading above its 100-day and 200-day exponential moving averages (EMAs). Experts predict that Chainlink could rise to $26 by the second quarter of 2024.
Avalanche (AVAX) Continues Upward Trend
Avalanche (AVAX) has also experienced significant growth, soaring over 150% in the past 12 months. This positive trend is expected to continue, bolstered by Particle Network‘s announcement of universal accounts on the Avalanche network. This development will allow traders to use any decentralized application (DApp) on Avalanche with different tokens. Avalanche is trading above its 50- and 100-day EMAs, supported by nine green technical indicators. Experts predict that AVAX could reach $53.11 by the end of Q2 2024.
THORChain (RUNE) Achieves Major Milestones
THORChain (RUNE) has seen remarkable performance, increasing its value by over 450% in the last year. The DeFi project recently surpassed $30 billion in swap volume in 2024, and further integrations, such as with Solana, are planned for later this year. Seventeen technical indicators are in the buy zone for RUNE, which is trading above its 100- and 200-day EMAs. Experts are optimistic about THORChain’s future, predicting a potential rise to $9 by the end of Q2 2024.
With strong technical indicators and bullish predictions, Chainlink, Avalanche, and THORChain are considered top DeFi tokens to buy now. These coins are showing significant growth potential, making them attractive options for investors looking to capitalize on the expanding DeFi market.
