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.
It's always fun to watch a market flirt with a ceiling it just broke through on the way down. Hopefully, it's just catching its breath and not planning a deeper dive to reminisce about old times.
That's a solid read on the current DeFi landscape. I'm seeing similar patterns, especially with some of the larger caps struggling to maintain momentum. Are you specifically watching any on-chain metrics beyond just TVL, like stablecoin inflows or DEX volumes, to confirm that exhaustion?
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.
I'm seeing similar patterns, but I'm not convinced we'll revisit Q4 2023 lows without a broader market correction. The 0.85306 level is key, agreed.