DeFi tokens Uniswap (UNI), XDC Network (XDC), and Jito (JTO) have recorded significant double-digit gains over the past 24 hours, emerging as some of the top-performing altcoins in the market. This upward movement follows positive regulatory comments from former SEC Commissioner Paul Atkins, who expressed support for self-custody solutions and flexibility for market participants engaging in staking and other on-chain activities.
The broader market recovery has provided a favorable backdrop for these assets, with technical indicators suggesting potential continuation of the bullish momentum—if key support levels hold.
Uniswap (UNI) Breaks Above $8
Uniswap saw a remarkable 26% surge on Tuesday, forming a bullish engulfing candle on the daily chart. Although the token has since pulled back by over 4%, it remains well-positioned for further gains if buyer interest continues.
A brief pause at $8.67 saw UNI retreat from a supply zone near $8.70, but technical indicators remain optimistic. The Moving Average Convergence Divergence (MACD) has flashed a positive crossover, and the Relative Strength Index (RSI) is hovering near 67—approaching overbought territory but still indicating healthy bullish momentum.
The rising 50-day and 200-day Exponential Moving Averages (EMAs) also suggest an increasing likelihood of a bullish cross.
If the current retracement finds support near the 200-day EMA around $7.67, a rebound could see UNI retest the $8.70 resistance level. Traders and investors are watching this key level closely for a potential breakout.
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On the other hand, a daily close below $7.67 could trigger a deeper correction toward the $6.90 region, which previously served as resistance and may now act as support.
XDC Network Approaches Multi-Month Resistance Breakout
XDC continued its positive momentum, building on Tuesday’s 9% gain with an additional 1% rise at the time of writing. The token is now trading at $0.06775, marking a more than 16% increase from its seven-day low of $0.05801.
Notably, XDC has broken above a key long-term resistance trendline formed by connecting the highs from January 17, April 29, and May 23. A sustained close above this trendline could open the path toward the May 23 high of $0.07954.
The MACD indicator has triggered a buy signal, with the blue line crossing above the red signal line. Meanwhile, the RSI sits at 56, indicating growing bullish momentum with room to run before reaching overbought conditions.
Should XDC fail to maintain its position above the trendline, a reversal could see it fall back toward the $0.06770 support level—previously established as a low on April 8.
Jito (JTO) Shows Signs of Bullish Exhaustion
Jito, a Solana-based DeFi token, rallied 14% on Tuesday, marking its fifth consecutive bullish daily candle. However, the token struggled to break above the 200-day EMA resistance at $2.25, leading to a pullback of over 4% on Wednesday.
The reversal is currently retesting the $2.11 level, which has now turned from resistance to support after being tested on May 22. A daily close above the 200-day EMA could serve as a potential entry signal for buyers looking to capitalize on the next leg up.
In such a scenario, a breakout could extend the recovery rally toward the $2.42 level, last tested on March 25.
Jito’s technical indicators share the bullish bias observed in other DeFi tokens. The MACD shows both the blue and red lines above the zero line, with green histogram bars rising. The RSI is positioned at 60, having broken above the midline, suggesting there is additional upside potential before overbought conditions emerge.
However, a close below $2.11 could see JTO decline toward the 50-day EMA around $1.90.
Frequently Asked Questions
What caused the recent surge in DeFi tokens like UNI, XDC, and JTO?
The rally was largely fueled by supportive comments from former SEC official Paul Atkins, who endorsed self-custody and on-chain activities such as staking. This boosted investor confidence in DeFi-related assets.
Is now a good time to invest in Uniswap (UNI)?
While UNI shows bullish indicators like a positive MACD crossover and strong EMA support, always conduct your own research and consider waiting for a confirmed breakout above key resistance levels before entering.
What does the RSI value indicate for these tokens?
An RSI near 60-70 suggests growing buying momentum but is not yet overbought. Values above 70 may indicate a potential pullback, so monitor price action closely.
Can XDC break through its long-term resistance?
XDC has shown strength by breaking its multi-month trendline. A daily close above this level could confirm a bullish trend continuation toward higher price targets.
What is the importance of the 200-day EMA for JTO?
The 200-day Exponential Moving Average is a key technical level. Sustained trading above it often indicates long-term bullish sentiment, while failure to break above can lead to corrections.
How can I stay updated on DeFi token market movements?
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