DFIUSDT testing the 1D MA50 with strong break-out sentiment

Aug 25, 2022

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For this particular analysis on DeFiChain we are using the DFIUSDT symbol on the KuCoin exchange.
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The idea is on the 1D time-frame where DFI has been on Lower Lows since July 02 and is on a 3 day rally attempting to see if this will materialize a Lower Highs trend-line of a Channel Down. What's standing in the way now is the 1D MA50 (blue trend-line). A break above should test the Lower Highs and confirms if this is a bearish Channel or not.

This should coincide with a 1D MA100 (green trend-line) test, which should be critical for the long-term as this trend-line has been untouched since May 10 2022. A break above can potentially mean a return to the bullish trend, at least on the medium-term, until the 1D MA200 breaks. The bullish bias seem stronger as the MACD on the 1W time-frame is close to forming the first Bullish Cross since February 20 2022, which resulted in a +50% rise.

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