The DeFi Index is a capitalization-weighted index that tracks the performance of some of the largest protocols in the decentralized finance (DeFi) space.
DeFi Index is trading an in impulsive recovery away from the lows, which is from Elliott wave perspective ideally unfolding a five-wave bullish cycle. After recent corrective slow down, which we see it as a wave (4) correction, seems like it's now on the way higher within 5th wave that can push DeFi coins higher in upcoming days/weeks.
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DeFi Index is nicely rising within 5th wave as expected!