DeFi _: Analyst Signals Caution on WOO, DOT, ATOM

Key Insights

• Analyst Daan Crypto Trades predicts a shift in market focus from AI tokens to DeFi tokens.
• Analyst Michaël van de Poppe identifies WOO, DOT, and ATOM as DeFi tokens with strong potential for growth.
• WOO is attempting to break above the $0.69 resistance level, potentially leading to a further surge towards $1.
• Polkadot is attempting to break above the $10 resistance level, potentially leading to a rally towards $13 or even $22.6.
• Cosmos is experiencing a potential breakout from a downtrend, with the $15.4 resistance level as the next hurdle.

Only a few weeks ago, we had AI tokens like Worldcoin, Render and Internet Computer effortlessly dominating the market and registering double-digit gains.

ContentsKey InsightsThe Defi Market Could Be Waking UpWhat’s Up With $WOO?Polkadot ($DOT)Cosmos (ATOM)However, what if it was time for the Defi tokens to take centre stage?

Moreover, which of the Defi tokens would be the most poised to make massive gains when this shift happens?

Let’s go over the opinions of these analysts, and attempt to pick out why $WOO, $DOT and $ATOM might be the best ones to pick.

The Defi Market Could Be Waking Up

According to data from CoinGecko, the Defi market now boasts a capitalization of 106 billion, as shown below:

The defi market’s metrics | Source: CoinGeckoWe can already see the uptrend in the Defi market cap in the chart displayed above, indicating that investors indeed are switching to Defi as predicted by Daan Crypto Trades in this 24 February tweet.

In more recent news, another popular analyst, Michaël van de Poppe stated that he is “betting on the $ETH eco, and everything correlated to it”.

To this end, he says that “$WOO has been waking up substantially, and $DOT and $ATOM are doing well. It’s just a matter of time before DeFi will be waking up.”

What’s Up With $WOO?

Woo has been performing extraordinarily over the last day, per Coingecko data.

Coingecko on WOOThe cryptocurrency sits at around $0.6 and has travelled to the upside by as much as 12% over the last day, as shown above.

Woo in the chartsAccording to the charts, WOO appears to have found some nice support exactly around $0.33 and is using this price level to its advantage.

What we see above is Woo attempting to rally straight up to the $0.69 resistance in an attempt to break above for the first time since April 2022.

From the looks of things, retesting and even breaking above the cryptocurrency’s $0.879 all-time high would be fairly easy if we see a break above this $0.69 resistance.

To this end, investors should keep an eye out for whatever happens around $0.69, because Woo might attempt to break through the $1 zone from here, in an extra 70% rally.

Polkadot ($DOT)

Polkadot, according to the CoinGecko, trades at around $10, which is an important psychological resistance zone.

Polkadot’s priceCoincidentally, the cryptocurrency is also up by around 10% over the last day, with over 30% in gains over the last week

Polkadot is on the verge of a break above $10 as shown in the chart below.

Polkadot is set to break outIt is understandable, how Polkadot has been held under this resistance after first breaking under in May 2022.

This time around, the cryptocurrency is attempting a massive break above and could be poised for a rally straight up to anywhere between the major $13 resistance and $22.6.

Cosmos (ATOM)

Cosmos trades at around $12.6 at the time of writing, and is up by around 6% over the last day, as shown below:

Cosmos’ priceCosmos is also up by around 21% over the last week, indicating some degree of strength on the part of the bulls.

The charts show us that Michaël van de Poppe may be on to something, because Cosmos has been in a downtrend since September 2022, as shown by the weekly chart below.

Cosmos’ price actionThe previous week’s rally until now, has been part of a massive breakout move that will likely lead Cosmos straight up to the $15.4 resistance before we see any form of breakout, consolidation or retest.

To this end, the less risky move would be to wait and see what happens around $15.4.

If we see a sustained break and close above this price level, Cosmos might be poised to travel further upwards to anywhere between the $20 – $29 range.

Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.