Looking at FTX's
DEFIPERP
index that tracks some of the large names in defi.
The recent price action has been interesting, forming a cup and handle-like pattern. In my opinion this still needs some time to simmer before it is ready to set a higher high and take off. The RSI is showing promise and the momentum indicator is hinting at crossing over BUT some of the underlying assets' charts do not look as enticing. I am not entirely sure how close these track, but would still like to see volume pick back up and the chart set a definite trend before making moves.
Similarly, KUCOIN:DPIUSDT has been hinting at a rotation back into defi blue chips.
Regardless, if i had to guess this is all pointing to a defi summer-like boom to close out November into 2022.
DEFIPERP
index that tracks some of the large names in defi. The recent price action has been interesting, forming a cup and handle-like pattern. In my opinion this still needs some time to simmer before it is ready to set a higher high and take off. The RSI is showing promise and the momentum indicator is hinting at crossing over BUT some of the underlying assets' charts do not look as enticing. I am not entirely sure how close these track, but would still like to see volume pick back up and the chart set a definite trend before making moves.
Similarly, KUCOIN:DPIUSDT has been hinting at a rotation back into defi blue chips.
Regardless, if i had to guess this is all pointing to a defi summer-like boom to close out November into 2022.