DEFI Index, Move Below Well-Established Trend-Line, Objections!

FTX:DEFIPERP   DeFi Index Perpetual Futures

Welcome to this analysis about the DEFI Index, we are looking at the 6-hour timeframe perspectives. The Index recently has shown up with a sharp move below a well-established ascending-trend-line marked in my chart on which the Index severely bounced bullishly to the upside and now recently moved below it signaling it is now a serious resistance-line that should not be underestimated, mainly when the Index moves on the next times to test the remaining supports it is likely to emerge with a pullback from there because of the resistance-cluster. This does not mean the index will continue bearishly forever however it has to be elevated then how the index manages to confirm the dynamic-support-line as a reliable support to bounce and back up.

In this manner, thank you for watching the analysis and great contentment for everybody supporting, all the best!
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