DeFi Index, They need to calm down!
The index itself is in a range while tokens like lend are extremely bullish for weeks. But there is a time for everything...
As the DeFi index is approaching the top of its range, and RSI also reaching its bear trend while apparently having a bit of bearish divergence too, we can expect the next move to be another test of bottom of the range.
A breakout afterwards can add another 12% to the drop.
And obviously if the ranges breaks from top, we will have the bullish scenario, however it appears bearish to me at the moment.
As the DeFi index is approaching the top of its range, and RSI also reaching its bear trend while apparently having a bit of bearish divergence too, we can expect the next move to be another test of bottom of the range.
A breakout afterwards can add another 12% to the drop.
And obviously if the ranges breaks from top, we will have the bullish scenario, however it appears bearish to me at the moment.
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