DeFi and Layer-2 Projects See Increased Trading Activity
- Market Recovery Momentum: During the latest altcoin recovery phase, DeFi and Layer-2 projects attracted significant trading activity, particularly with mid-cap cryptocurrencies like RAY, ENA, CRV, VET, and OP showing strengthened technical structures, indicating improved market sentiment and renewed investor interest.
- Community Engagement Drive: Community involvement emerged as a major driver behind the rising momentum of several digital assets, especially in decentralized finance and blockchain infrastructure-related tokens, with notable increases in trading volumes, liquidity, and social interactions, reflecting a restoration of confidence in these projects.
- Attention on Raydium and Ethena: Raydium, as one of the most discussed decentralized exchanges on the Solana network, gained attention due to the expansion of its liquidity infrastructure, while Ethena attracted market interest following a rise in synthetic dollar protocols and yield-focused products, demonstrating sustained trading demand in the short term.
- Strength of Curve DAO and VeChain: Curve DAO regained focus as decentralized finance activity improved across Ethereum platforms, with CRV breaking above several resistance levels, while VeChain maintained relevance due to its long-standing supply chain partnerships, indicating potential resurgence for infrastructure-focused tokens.
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Technical Analysis for DEFI
Technical Sentiment Analysis for DeFi (DEFI). As of , DeFi (DEFI) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for DEFI stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, DEFI is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
DeFi (DEFI) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.000209 | 0.000216 | 0.000224 | 0.000232 | 0.00024 | 0.000247 | 0.000255 |
| Fibonacci | 0.000216 | 0.000222 | 0.000226 | 0.000232 | 0.000238 | 0.000241 | 0.000247 |
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