DeFi market cap is once again testing a key support zone — the same level that kickstarted accumulation and a rally in 2023.
🔍 Structure:
— Price is retesting the 1W S/R zone
— Attempting a breakout from the 2024 downtrend line
— Falling wedge pattern forming with a potential reversal setup
📌 Plan of action:
1️⃣ Look for a break above resistance (~$80B)
2️⃣ Wait for a clean retest and confirmation of support
3️⃣ Long entry on confirmation, targeting a move toward $110B+
🛑 Invalidation: Weekly close below $65B would cancel the bullish structure.
🚨 A confirmed breakout here could be the spark for a sector-wide DeFi rally. Monitor for confluence from other alt sectors and indexes.
🔍 Structure:
— Price is retesting the 1W S/R zone
— Attempting a breakout from the 2024 downtrend line
— Falling wedge pattern forming with a potential reversal setup
📌 Plan of action:
1️⃣ Look for a break above resistance (~$80B)
2️⃣ Wait for a clean retest and confirmation of support
3️⃣ Long entry on confirmation, targeting a move toward $110B+
🛑 Invalidation: Weekly close below $65B would cancel the bullish structure.
🚨 A confirmed breakout here could be the spark for a sector-wide DeFi rally. Monitor for confluence from other alt sectors and indexes.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.