We talked about DeFi Index back on April 23, where we mentioned and highlighted a bullish reversal after an irregular (A)(B)(C) flat correction in blue wave B.
DeFi Index made a nice and impulsive recovery away from projected strong support, which could be wave (1) of a new five-wave bullish cycle for a higher degree wave C. Currently we see it slowing down within wave (2) correction that can be a slightly deeper one with the support at 600-500 area. So looks like we are in the ALTseason and soon we may see a strong rally within wave (3) of a five-wave bullish impulse back towards March 2024 highs.
DeFi Index Daily Chart
A basic bullish irregular flat correction is a three-wave (A-B-C) pattern where wave B exceeds the start of wave A and wave C dips below wave A before the overall bullish trend resumes.
For more analysis like this you may want to watch below our latest recording of a live webinar streamed on June 16, 2025: Direct Link
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