Monuel jumped the distinctive symbol and across the main resistance level on Friday as the decentralized financing platform continues to grow.
Monuel (well) rose to $ 0.03900, the highest point since February 1, and an increase of 157 % of its lowest point in March. He jumped on Friday, even with the collapse of the encryption market continued.
Monuel the symbol rose with the continued growth of the ecosystem. Defi Flame Data He explains that the closed total value jumped to a record level of 251.5 million dollars, a significant increase in the lowest level in April of $ 101 million. Most of these assets are on the base, and Layer-2 Blockchain launched by Coinbase in 2023.
MoonWell also witnesses more developed activity than most players in the decentralized financing industry. He had 156 connections this month, the highest level since March, when the number of developers rose to six.
The distinctive symbol also increased as society voted to expand its technology to Superchain in optimism, a solution that unites contracts across chains, sharing governance, and providing one application interface.
MoonWell is one of the fastest growing players in Defi. It is a competitor to AAVE (AAVE) and other lending protocols, allowing users to deposit their coins and gain rewards, and borrowers to reach capital. For example, the USDC deposit attracts APY by 6.8 % and APY by 5.8 %.
Well technical analysis of prices
The Daily Chart explains that Moonwell Taken has $ 0.01510 in April, then gradually wore with the recovery of the encryption market. It has moved higher than a 50 -day moving average and is now 23.6 % in Fibonacci at $ 0.038.
It also moved above the decisive resistance level at $ 0.037, which is the highest previous point this month.
However, the average trend index has indicated down, a sign that the assembly may not be very strong. Also, the coin slowly forms a rising wedge pattern, and the common reflection pattern.
Therefore, there is a risk of continuous assembly, which may cause it to decrease to less than $ 0.030. The step above the upper side of the Wedge style would confirm the bullish trend and indicate more gains, perhaps to the level of RERERERERRERDING by 50 % Fibonacci at $ 0.065.
