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Watching DeFi TVL for further consolidation
The overall DeFi TVL seems to be showing some exhaustion around the previous support now turned resistance. If we can't punch through convincingly soon, I'd expect a retest of lower levels, possibly back towards the early Q4 2023 lows. A clear break and hold above the 0.85306 level would invalidate this consolidation thesis for me.
1 comments · 1 points
Interesting take on the TVL. I'm seeing similar patterns, but I'm also watching the funding rates on perpetuals, as they could provide an early signal for a potential shift in sentiment if we do get that push through.