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EasyFi Price Forecast 2021 — How High Will EASY Reach This Year?

EasyFi Price Forecast 2021 — How High Will EASY Reach This Year?
  • EasyFi is a universal layer 2 lending protocol created for DeFi focused on composability, scalability, and adoption.
  • Bullish EASY price prediction ranges from $32.41 to $45.38.
  • EasyFi may have a good market performance this 2021.

This EasyFi Price Analysis 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our EasyFi price analysis and prediction.

There are many cryptocurrency that spiked during this 2021 bull run. In spite of all, the crypto market has seen many worse days recently. Many traders might be in a confused state whether it is time to sell, or hold and wait for a good move.

The same can be said for EasyFi. The Easy price reached its newest all-time high (ATH) this March 2021 at $29.05. It also reached a 24-hour trading volume of over $12.9 billion.

Nevertheless, the crypto market is in the red lately, and most cryptos are losing their previous profits. Is the story the same with EASY price? We’ll find out shortly in this EasyFi price analysis 2021 article. But first, a little background about EasyFi.

What Is EasyFi (EASY)?

EasyFi is a universal layer 2 lending protocol created for DeFi focused on composability, scalability, and adoption. It has been designed as an open network infrastructure to run on public networks to enable end-to-end lending & borrowing of crypto assets and related financial products.

The EasyFi network is blockchain-agnostic, providing cross-chain asset settlements. Also, EasyFi uses a Proof-of-Stake (PoS) consensus algorithm.

Even more, the network design is Ethereum-compatible, facilitating fast settlement of funds over different blockchain networks while retaining custody with the asset owner’s network.

The cross-chain feature allows lending and borrowing across a host of markets such as private platforms and permissionless public networks. In addition, the network is secured by a PoS mechanism, governed through participating voters to reach consensus among network participants.

Currently, the top crypto trading platforms for EASY are Binance, HitBTC, Uniswap (V2), Gate.io, and Bilaxy.

That said, is EasyFi a good crypto to invest in 2021? Let’s find out in this EasyFi price prediction 2021 article.

EasyFi Price Analysis 2021

Currently, EasyFi holds the 432nd place on CoinGecko. But will the recent changes in the blockchain and its governance help catapult the price to reach higher? Let’s proceed to the charts in this EasyFi price prediction article.

In the daily time frame chart below, we can see the Three Rising Valleys pattern. Usually, this is preceded by an uptrend. But this can be followed by a downtrend as well. More so, the pattern itself suggests a break further to the upside level. However, this pattern took more than a month to form.

EASY/USDT 1-day chart (Source: TradingView)

As shown above, at the beginning of February, EASY was in a consolidation state. This indicates a high trade volume occurred in that period. Moreover, in the bigger time frame, EASY showed the bullish Cup and Handle pattern. We will discuss this pattern toward the end of the article.

The Relative Strength Index (RSI) is at 60, which means that EASY is nearing an oversold state and may trigger a price reversal at any given time. Therefore, traders must trade wisely and must not be influenced by the market hype. With this in mind, traders can move away from unexpected losses due to the crypto market’s wild swings.

EASY Relative Strength Index (Source: TradingView)

Let us also check the Simple Moving Average (SMA) and the Exponential Moving Average (EMA).

EASY 30-day SMA and 50-day EMA (Source: TradingView)

Since the start of 2021, EASY price has seen a number of bullish moves which are higher than the previous one. These are immediately followed by corrections and consolidations. Taking this into account, EASY has a competitive market this 2021.

EasyFi Price Prediction Chart Showing Cup and Handle Pattern

EASY/USDT Cup and Handle pattern (Source: TradingView)

As shown above in this EasyFi price forecast, in a bigger time frame, EASY has shown a Cup and Handle Pattern, which is a bullish signal. In ideal cases, this immediately leads to a price breakout.

In the short-to-mid term scenario for our EASY price prediction 2021, EASY has to break past the Fib retracement level at $32.41. To do this, it has to establish more support at the Fib level at $29.05. If not, bears may gain the upper hand and drag EASY to their territory.

Meanwhile, our long-term EASY price prediction 2021 is bullish. It has a high possibility of surpassing its current ATH at about $29.05 and reach up to $32.41 this year. If it exceeds our expectations, it may even reach $45.38 this year. However, that will only happen if it breaks past a number of psychological resistances.

Conclusion

EasyFi has a bright future ahead of it in 2021. With ongoing developments happening within the EASY ecosystem, as well as in the overall crypto market, we may see EASY reach new heights.

Bullish EASY price prediction 2021 is $32.41. As said above, it may even reach $45.38 if investors have decided that EASY is a good investment in 2021 along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

What is EasyFi?

EasyFi is a universal layer-2 lending platform that allows for cheaper and faster transactions when borrowing and lending crypto assets.

How to Buy EASY Tokens?

Users can obtain EASY tokens by purchasing them from cryptocurrency exchanges such as Binance or Uniswap.

Is EasyFi worth buying?

EasyFi’ native asset EASY is a good investment in 2021. However, traders and investors need to take extra care when trading in cryptocurrencies, as these are extremely volatile.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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Crypto trading has enticed Ananthi Reeta to write for CoinQuora. She consistently contributes news and feature articles. She has covered several different blockchain and crypto niches, especially altcoins.