NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

DeFi Token LEND Breaks Parabola Support; More Losses Ahead?

Yashu Gola
Yashu Gola
4 years ago
3 mins read
LEND, aave, blockchain, bitcoin, cryptocurrency, defi

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

  • LEND, the native token of non-custodial lending platform Aave, fell almost 40 percent from its year-to-date top of $0.384.
  • The plunge followed a steep 2,000 price rise that occurred amid a hype-oriented boom in the decentralized finance sector.
  • Technical indicators, coupled with a rally in proof-of-work tokens, now suggest that the LEND downtrend may continue.

Aave’s LEND token surged by more than 2,000 percent in 2020. But its rally is appearing to come to an end.

After topping at near $0.384 earlier in July, the LEND/USD exchange rate corrected lower by circa 40 percent. As of Monday, the pair had established an intraday low at $0.232, a move that crashed it below its parabolic support for the first time this year.

LEND, aave, blockchain, bitcoin, cryptocurrency, defi

Aave's native token LEND broke below its long-term parabolic support on Monday. Source: TradingView.com

Stealing Limelight

Traders held the price from falling any deeper below the purple curve, as shown in the chart above. The LEND/USD exchange rate formed a sizeable bearish wick and shortly recovered, indicating that there is still some buying sentiment left near the parabolic support.

But LEND continued to trade in a negative area for Monday.

Part of the reason was Bitcoin and Ethereum, the two leading cryptocurrencies that surged impressively higher into the current session. Incidentally, LEND had surged by 675 percent in the last two months, specifically as Bitcoin and Ethereum consolidated sideways in a narrow trading range.

LEND, aave, blockchain, bitcoin, cryptocurrency, defi

As demand returned for the top two assets in the final days of July 2020, it prompted LEND traders to offload part of their bullish positions for the relatively more bullish tokens. Against bitcoin, the DeFi token plunged by up to 44.11 percent. At the same time, it corrected lower by as much as 55 percent.

Profit-Taking Could Hurt LEND

As Bitcoin grows amid higher global demand for safe-haven assets (read Gold), the selling pressure on LEND may mount further. That is very visible during its first parabolic rally in 2018. Back then, the LEND/USD rate surged by more than 1,500 percent, only to wipe those gains entirely by the end of 2018.

LEND, aave, blockchain, bitcoin, cryptocurrency, defi

LEND previous parabolic trend resulted in a 100 percent wipeout. Source: TradingView.com

Back then, the boom appeared out of a so-called ICO hype. This time, the craze was for decentralized finance tokens. Providing that demand returns for these assets even as Bitcoin rallies further, they would risk further downside correction due to their overbought status.

The weekly chart above shows LEND in a similar stage. Its Relative Strength Index, above, 70, reflects a booming selling pressure. If it persists, then LEND may, at last, break below the parabolic support. If not, then traders would use the local low to accumulate more tokens to continue the rally.

Tweet123Share196ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin price news

The Bitcoin Liquidity Supercycle Has Just Begun, Says Hedge Fund CEO

Bitcoin punched through a fresh record above $122,000 on the morning of 14 July, extending its month-long rally to more...

Jake Simmons 3 hours ago
Bitcoin Price Attempts a Comeback

Bitcoin Price Hits $120K Milestone — Bulls Make History Again

Bitcoin price started a fresh increase above the $116,500 zone. BTC is now up over 2%, traded to a new...

Aayush Jindal 4 hours ago
Bitcoin price news

Bitcoin Price Crash Possible As Correction Sentiment Takes Hold — $110,000 Next?

After hitting a new all-time high of $121,400, the Bitcoin price has started consolidating once again, although the support continues...

Scott Matherson 4 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Crypto expert: Bitcoin koers gaat snel exploderen naar $250.000

Bitcoin Price Breaks 8-Year Resistance Line That Failed In 2017-2021

Scott Matherson 7 minutes ago
미래의 암호화폐 가격을 예측하는 코인 선물 게임 출시

암호화폐 미래 가격 예측 ‘코인 선물 거래’ 주목…전 세계 이용자 급증

Soyeon Lee 36 minutes ago
Stellar

Stellar (XLM) Set To Explode? 92% Rally Sparks Bullish Frenzy—Details

Christian Encila 55 minutes ago

Premium Sponsors

Press Releases

  • 3 altcoina koja vrijedi pratiti u drugom tjednu srpnja 2025.

    3 altcoina koja vrijedi pratiti u drugom tjednu srpnja...

    3 minutes ago
  • Mint

    Zak Manhire Launches Mint. io: A Web3 Gaming Platform...

    3 hours ago
  • アルトコイン急騰の今買うべき仮想通貨プレセール

    ...

    17 hours ago
  • 仮想通貨おすすめ|強気市場で爆発的成長が見込まれる注目のミームトークン

    ...

    18 hours ago
  • ...

    18 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.