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Various Indices Struggle to Regain Footing After Sharp Correction

3 mins
Updated by Ryan Boltman
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In Brief

  • The Altcoin index is trading between support and resistance at $2820 and $4780.
  • The DeFi index is following a long-term ascending support line.
  • Both reached all-time highs on May 12
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The DeFi Index (DEFIPERP) is following a long-term ascending support line and has reclaimed the $1700 support area.

The Crypto Total Market Cap (CRYPTOCAP) has bounced at the $1.33 Trillion support area. It is now trading inside a short-term descending parallel channel.

For BeInCrypto’s latest bitcoin (BTC) analysis, click here.

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Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

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Valdrin Tahiri
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona School of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst. (I do not have a discord and will not contact you first there. Beware of scammers)
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