Bad news for people holding defi coins/tokens.
The markercap of DeFi coins/tokens (TOTALDEFI) is looking weak vs USD and BTC.
Some serious corrections likely on the line as we observe some relevant trendlines being broken.
Monthly TOTAL DeFi Chart
Looking for a hold above support.
The defi chart support is much lower, which indicates it was a very bullish chart in this cycle...
i am expecting us to stay above the white line as support.
Right now we are experiencing bearish action which will ultimately result in a break of this parabolic trend, this might seem grim, however the past two times have led to a recovery of the trend
This might occur again and the bull market will resume.
The white zones of the RSI are the break points of the Trend
I am suggesting a further down move, but a stronger...
DEFI TOTAL looks extremely bullish as it sits above this yellow long term trend line and post moving out of a rising wedge that will end up playing in the bullish favor
Triangles like this have been seen before and are in green
Posting chart idea following the video I made on this.
It is expected to see several DeFi projects to let go some of the 2021 gains and possible 2020. But we are not there... just yet.
This chart is one of major reason I could see Bitcoin also get a huge cut like piercing bellow 30k.
While we didn't get the 'DeFi Summer' that many expected, things appear to be heating up in DeFi right now, going into 2022.
The Crypto Total DeFi Market Cap chart in TradingView here is showing bullish signals both on the daily candle (which is sitting nicely on the uptrending 21 day EMA, which I call a 'Rocket on the Launchpad') -- but also our custom...
2H: Still a higher high but getting testet rn.
2D: Bulls could not hold the top area above 156244B $ MC.
2W: If bears take the control and the dip last week was the start of the bear market i see a possible bottom around 75B $ MC.
I think if regulations come in the US that they will hit DEFI, Stablecoins and interest on Stablecoins harder than the rest of the market!
After Growing more than 6000x since Apr-2017 , during 4 Years ago , Where Does DeFi Go From Here?
If you have been following blockchain, you have probably already heard of the recent emerging industry called DeFi, which has experienced substantial growth, and is now worth over $123 billion. Everyone is talking about Decentralized Finance and DeFi projects.