DFI Good pump aheadDeFi charts looks pretty good. After months of drop, i think we finally touched the bottom. R:R ratio to the top is really good, and it deserve at least a spot buy. I think that the party could start as soon as we will flip the red box and retest the trendline
DFIUSDT
DFI from a broad technical perspectiveI know fundamentals and news events often overrun technicals - especially in the crypto-verse. But the look from a pure TA long-term perspective on the DFI/USD(T) chart bears a very bullish opportunity.
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Prices of 1 USD (or a bit more?) until the end of this year? At least it's possible.
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.
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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.
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Inverse H&S Formation?You can see an inverse H&S chart pattern is forming in DFI/USDT. We have broken the EMA 17 and SMA 30 already to the upside - the SMA 50 could offer a bit more resistance at currently 1.30 USD.
For me it seems like the crypto market could reverse (see also the BTC/USD chart) - not to approach the ATHs but to make a first move to the upside. We'll see.
DeFiChain (DFI) hold strong volume supportDeFiChain (DFI) hold strong volume support - several times now.
A break below that volume level would be a bad sign - everything above allows thoughts of higher courses.
A confirmed breakout of the OBV resistance would be a very strong bullish signal 😎
Drop me a nice comment if you'd like me to analyze any other cryptocurrency or do another comparison.
*no financial advice
do your own research before investing
Lets add DFI to our watchlistAs of right now, DFI is forming a Cup form, but completing it the form, price can rally up to 3.7$ Zone
DeFiChain DFI long time Consolidation*** This is just for educational purpose, not an investment advice. I am not a financial advisor, just sharing my own analysis.
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
