The cryptocurrency market has been steadily declining for more than a year and has caused numerous crypto coins to collapse by a significant amount. As a result, some of the best DeFi coins are heavily discounted, providing an entry opportunity for investors to grab them at cheap prices. Here is a list of coins that could offer huge returns in 2023.
Amid the ongoing downtrend, the price of Uniswap (UNI) may have plummeted by 87.06% from its all-time high of $44.97.
Currency, this altcoin is trading at the $5.8 mark and is trapped in an eight-month consolidation.
If this consolidation ends on a bullish note, investors could see a recovery to $13.7 by the end of the first quarter of 2023. A breakout from this resistance will signal the possibility of a significant recovery, which could take prices to $31.5 within the next two quarters.
The price of the Chainlink coin is currently trading at $6.5 and sees a loss of 87.6% from an all-time high of $52.8. However, the price of the coin has resonated in a rectangular pattern over the past eight, and a breakout from its $9.6 could trigger a significant recovery.
If market sentiment improves in 2023, this DeFi token could exceed $30 by the middle of the year.
Since its all-time high of $666.86, the AAVE price has seen a decline of 91.17 and is currently trading at $58.8. However, buyers defended the $50 psychological support, which reinforced a sideways rally in the monthly chart.
If bullish momentum filled the bullish momentum to this support, a $115 breakout would be an early sign of recovery. A breakout from the mentioned level could push the price to $250 by mid-2023.
The Fantom coin witnessed an aggressive fall after reaching an all-time high of $3.48 in October 2021. The price drop recorded a loss of 93.47% and caused prices to plummet to their current price of $0.22.
However, the altcoin shows a slow sideways movement above $0.194, indicating the depleted bearish momentum. In addition, a potential recovery from the mentioned support could push the price to the violated support of the Fibonacci retracement level at $0.786.
A breakout from this barrier could support a significant recovery that could reach the $1.75 threshold by the end of 2023.
The price of the Curve Dao coin has plummeted 91.4% from its January 2022 high of $6.8. In the midst of this fall, the price of coins retested the $0.4 mark and showed sustainability above this long-term accumulation zone.
If the CRV price falls to this support, the investor could see a recovery of the $1.57 barrier by the end of the first quarter of 2023. A bullish breakout from this resistance will be a key milestone to achieve, as it could sustain a price rally to break above $3.5 in the coming year.