DeFi charts looks pretty good. After months of drop, i think we finally touched the bottom. R:R ratio to the top is really good, and it deserve at least a spot buy. I think that the party could start as soon as we will flip the red box and retest the trendline
I know fundamentals and news events often overrun technicals - especially in the crypto-verse. But the look from a pure TA long-term perspective on the DFI/USD(T) chart bears a very bullish opportunity.
`
Prices of 1 USD (or a bit more?) until the end of this year? At least it's possible.
*** ***
For this particular analysis on DeFiChain we are using the DFIUSDT symbol on the KuCoin exchange.
*** ***
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...
You can see an inverse H&S chart pattern is forming in DFI/USDT. We have broken the EMA 17 and SMA 30 already to the upside - the SMA 50 could offer a bit more resistance at currently 1.30 USD.
For me it seems like the crypto market could reverse (see also the BTC/USD chart) - not to approach the ATHs but to make a first move to the upside. We'll see.
DeFiChain (DFI) hold strong volume support - several times now.
A break below that volume level would be a bad sign - everything above allows thoughts of higher courses.
A confirmed breakout of the OBV resistance would be a very strong bullish signal 😎
Drop me a nice comment if you'd like me to analyze any other cryptocurrency or do another comparison.
*no...
DeFi Chain from Julian Hosp is currently testing the highs of the Equilibrium between 3 & 4 Dollar psychological. It's a very significant EQ range since it's been tested 3 times both to the up & downside on the Daily, this is the 4th test currently to the upside.
=> A break can result in significant follow-through up to 5 & 6,5 Dollars given the previous bull...
