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DFIUSD

DFIUSDT testing the 1D MA50 with strong break-out sentiment*** *** 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 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. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
Long
by TradingShot
3
DeFi Is Testing The Highs: Can Break Out Any Time!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 pole, so another 25% to 60% rise. If the break to the upside fails, we will stay in the Equilibrium range (obviously). A look to the Weekly chart shows the strength of the bull pole clearly: It's a 2000% move up since the lows at 20 cents, and therefore, the probability of continuation is a lot higher. As always, the bullish continuation requires correlation to the rest of the crypto market & especially grandpa Bitcoin to stay positive. Some fundamentals : They just recently burned 156 million tokens (worth around $400 million). They have around $500 million in assets on their platform and around $170 million in top line revenue in Q1. You can read more here: www.linkedin.com
Long
by Edgy_
1