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/pos...520563127955456-HHme
=> 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/pos...520563127955456-HHme
