Crypto Snippet is a brief overview of the crypto market; focused on Derivatives. This is not financial advice.

Crypto Pair: COMP-USDT

Date: 30th December 2020

COMP is trading near its 200 DMA. A breakout above 150 USDT may bid price further up to 180 USDT. One can initiate a long position with a SL below 130 USDT.

Trade COMP-USDT on Delta.

Crypto Pair: AAVE-USDT

Date: 28th December 2020

Despite BTC hitting a new ATH, DeFi coins haven’t witnessed a sharp bounce. But, one can look to long AAVE, with a stop-loss below 70 USDT, for a target of 90 USDT and 95 USDT.

Trade AAVE-USDT on Delta.

Crypto Pair: AAVE-USDT

Date: 23rd December 2020

AAVE along with other major DeFi coins has broken below its 200 DMA. One can look to short for targets of 65 and 50 USDT with a SL above 90 USDT.

Trade AAVE-USDT on Delta.

Crypto Pair: LINK-USDT

Date: 21st December 2020

In this bull market, DeFi has not been able to break above its August highs. LINK has broken below its trendline at 13.5 USDT. One could look to short LINK for a target of 12 USDT with a stop-loss above 14 USDT.

Trade LINK-USDT on Delta.

Crypto Pair: YFI-USDT

Date: 18th December 2020

YFI has been trading between 26K and 28K USDT and is near 20 DMA. Any breakout above 28K should see movement till 32K and breakout below 26K may lead to further down-move to 24 and 20K USDT. Traders may look to initiate position after the break out.

Trade YFI-USDT on Delta.

Crypto Pair: REN-USDT

Date: 16th December 2020

REN has been consolidating below 20 DMA and has not been able to break above 0.2 USDT. One can look to initiate a short position with a SL above 0.30 USDT for a target of 0.25 and 0.20 USDT. On the other hand, open a long position on a breakout of 0.30 USDT.

Trade REN-USDT on Delta.

Crypto Pair: LINK-USDT

Date: 14th December 2020

LINK along with other major cryptocurrencies moved sharply against USDT over the weekend. However, it failed to break above 20 DMA at ~13 USDT. One can look to long above 13 USDT for a target of 14 and 16 USDT. Meanwhile, a short position can be opened right now with a strict stop loss above 20 DMA.

Trade LINK-USDT on Delta.

Crypto Pair: AAVE-USDT

Date: 11th December 2020

DeFi is under pressure for the last couple of weeks. AAVE has broken below the 20 DMA. Any bounce till 80 USDT is expected to witness selling pressure. One can look to take a short position with a target of 50-60 USDT and a SL above 90 USDT.

Trade AAVE-USDT on Delta.

Crypto Pair: YFI-USDT

Date: 9th December 2020

YFI has moved below 20 DMA and is at crucial support of 25K USDT. Any bounce till 28K USDT should see short pressure. YFI can be expected to touch 20K USDT again within the next couple of weeks.

Trade YFI-USDT on Delta.

Crypto Pair: REN-USDT

Date: 7th December 2020

Trade REN-USDT on Delta.

Crypto Pair: BAND-USDT

Date: 4th December 2020

DeFi has witnessed a rebound this week. BAND has also broken above its local resistance at 6.5 USDT. BAND can go up to 8 USDT and 10 USDT in the coming days. This view gets negated below 6 USDT.

Trade BAND-USDT on Delta.

Crypto Pair: YFI-USDT

Date: 2nd December 2020

YFI has regained momentum after correction to 20K USDT. If YFI breaks 30K on the hourly candle, one can expect the prices up to 32K and 36K very quickly. The view would be negated below 25K.

Trade YFI-USDT on Delta.

Crypto Snippet - December 2020