Bitcoin and altcoins continued their rebound last week following massive (40-70%) declines. BTC ended the week up mere +1.4% and Ethereum (ETH) was up +15.9% (vs prior week’s +3.1% and 16.4%, respectively).
Most altcoins are now sitting at or near critical resistance levels, many have had failed breakouts.
Our Signals Summary page indicates that very few coins remain in an Uptrend on Short- or Medium-Term basis. Far more are in a Downtrend now (see table below) across all time intervals (1h, 4h, 12h, 1d):
And the situation has improved only modestly from prior week:
Decentralized Finance (DeFi) – Total Value Locked (TVL) modestly improved last week to $62B, +22% w/w (versus +7% in prior week), and is up +276% YTD.
DeFi cryptocurrency prices also bounced but more modestly (see below). Total DeFi category market cap increased last week by +3% (versus +17% in prior week), and is up +327% YTD (i.e. ~ 4.3x).
Check our unique automated chart pattern recognition for fresh trading ideas. Also, during market corrections, it’s always good to revisit coins in an Uptrend but with a pullback. Our Signals Summary has this and other pre-defined filters ready for action.
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Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as investment, financial, or other advice. There are risks associated with investing in cryptocurrencies. Loss of principal is possible.