💎In one of our last Defi analyses we have shown the formation of the double bottom. After the price bounced off the 8500 resistance area for the second time, we can witness a potential formation of a triple bottom.
💎The critical support lies at 5590, which is confirmed by the 88.6% Fibonacci retracement level. As of yet, Defi respected the support while trading at the bottom of the 5590 - 8770 range. This might be the beginning of a new cycle, based on the previous market waves.