Top Gainers & Losers for the Day, YFI, ICP, FIL Surge High, While ETC, RUNE, SNX Price Tank Notably
Crypto Space is undergoing a roller coaster ride as most of the assets are currently hovering within an upper consolidation. The asset which maintained a notable upswing a couple of days before now appears to have exhausted to some extent.
On the other hand, the popular DeFi token Yearn.Finance(YFI) reached the top of the gainer’s list with a notable spike of 9.45% since the day’s start and more than 86% in the past couple of days.
Yearn.Finance (YFI) Price
Yearn Finance price which once displayed a monstrous rally to become the only crypto to visit the levels close to $ 100K, appears to have again ignited a significant upswing from the past couple of hours. The asset broke the descending consolidation and pulled a massive leg up to regain the levels above $ 11,000.
Moreover, the asset is not facing huge bearish pressure presently which could indicate the asset’s preparedness to maintain a strong upswing during the weekend.
Internet Computer(ICP) Price
The ICP price after rebounding from the monthly lows below $ 5, maintained an ascending consolidation for nearly a month. However, in the past couple of days, the asset gained extreme bullish momentum which uplifted the price close to $ 10.
Presently, the asset is facing a slight bearish pressure, as the prices have corrected by 8% since the daily highs. However, the bulls appear to be a little exhausted now but may make it towards the double-digit figure during the weekend.
Filecoin price had been under immense bearish pressure ever since the asset reached its highs close to $ 240 in April 2021. However, the asset maintained a parallel consolidation since the beginning of 2022, which was slashed down by a series of negative rounds within the crypto space.
After an extended accumulation, the FIL price broke above the descending parallel channel without much bearish pressure. On the other hand, significant buying volume has accumulated and hence the asset may rise beyond $ 10 before the monthly close.
Ethereum Classic price after undergoing a steep drop in the past couple of months had surged high by nearly 240% in the past fortnight. However, after a gigantic rally, the bulls appear to have completely exhausted which led to a drop of nearly 7% to 9% since the early trading hours.
While the bullish momentum still appears to be intact, the ETC price is expected to resume the upswing soon. With the rebound, the price may easily regain the lost levels beyond $ 50 initially and later follow a strong uptrend to test the next resistance levels.
Thorchain price, on the other hand, is trending within a descending triangle for a pretty long time. Additionally, the asset is consolidating for an extended period displaying huge accumulation much required for a strong breakout.
After a breakout, which is expected not before a fortnight, may uplift the price close to $ 8. As the trend is within a descending triangle, a rejection from the upper resistance at $ 8 appears to be imminent.
Synthetic price has flipped the lower support of the bullish falling wedge pattern, since the beginning of July and gained more than 80%. The asset which was among the top gainers has declined heavily in the past 24 hours, mainly due to the exhaustion of the bulls.
After a brief consolidation, the prices are expected to surge high after breaking out from the falling wedge. Therefore, the initial target to reach would be around $ 5, sustaining above which may ignite an upswing to $ 8.