DEFIPERP - Temporary relief and then continued drawdown

I think what we're going to see here is a brief relief bounce, then continued move to the downside but with much less momentum than before.

Bollingers are contracting indicating the market is settling a little, Stoch is oversold so expect some relief in next few days. Currently at a support level with a lot of chart history.

But expect continued downside simply because hype is leaving this market, even if the market shall remain. DEXs are here to stay but DeFi autumn draws in.

Comment:

So far so good, expect this to get rejected at the resistance / MA.

Comment:

Played out perfectly so far.

Comment:

Played out exactly as anticipated, then rocketed off a strong historical support.

Lovely bit of TA.