OpenBlock

Defi is forming a triple bottom⁉️

FTX:DEFIPERP   DeFi Index Perpetual Futures
💎In one of our last Defi analyses we have shown the formation of the double bottom . After the price bounced off the 8500 resistance area for the second time, we can witness a potential formation of a triple bottom.

💎The critical support lies at 5590, which is confirmed by the 88.6% Fibonacci retracement level. As of yet, Defi respected the support while trading at the bottom of the 5590 - 8770 range. This might be the beginning of a new cycle, based on the previous market waves.

💎We must start to see is ...

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