DFI – ALTCOIN CHART ANALYSIS

DefiChain (DFI) continues to be in a significant downtrend. After we saw prices around USD 1.50 again in the meantime, things have been going downhill since then.

Right now we're trading around $0.61 and the 4H-EMA ribbons are going down with us. So far we have seen little impulses in the chart, which make a rapid increase likely.

The volume has recently continued to lose significant ground. Although we have formed a bullish divergence in the 4H chart, this has been dragging on for weeks and cannot trigger an increase either.

While the picture doesn't look much better on the daily chart, here we can see that a bottom may be in the offing soon.

A large support box comes at us at about 0.56 - 0.50 USD. This was still resistance in December 2020 and could now become our support.

This would also fit with the downtrend that is in confluence with this box here. If we stabilize here and break the downtrend, we should form an uptrend, but this is also accompanied by increasing volume.

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