Benqi (QI) Avax Defi Gem with a potential +15x from the current price. What is Benqi? BENQI is a peer-to-peer (P2P) lending protocol that is slowly emerging as a leader in the Avalanche (AVAX) DeFi ecosystem, further to this, Benqi also has a goal to build primitives developing a Defi platform on a subnet. Benqi already has $2bn in total locked value with a low...
the red line is 100sma, still not enough history for 200 to be seen
if this big trendline is broken and retested, could have a nice upside move in the mid-term if the market does well.
SRSI is on the roof, and could see some pullback before going up... ideally would be if breakout and then cools off while retesting it... the first big test for QI would be that...
In my opinion bitcoin looks so bullish right now that if you land this orderblock id leave it as a position trade. Not financial advice. Bullish chart imo, looks like a long term accumulation cycle forming.
SUMMARY: Long, small Cap Gem has bottomed out. It is a DeFi protocol part of the Avalanche eco system.
It has deviated below its low range and is prime for a recovery.
I can see this reaching a modest 500m Mkt Cap.
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*Not financial advice and is for educational purposes only. Always DYOR.
BENQI is under a big resistance zone right now, it acted as support multiple times and high resistance COULD be expected. Broke out from this descending trend line formed 8 days ago, and that is a good sign. Looks like death cross on SRSI and MACD have a chance to print it also. According to indicators it could turn back down and retest of that trend line or...
More downside is to be expected with QI. QI has formed a double top with a confirmed retest and will most likely hit $0.069 before we can see any minor trend reversal. Wish I detected this move earlier, but there is still some more room further down.
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