Crypto markets clearly are experiencing a Consolidation Phase (Neither go up or down in clear pattern). Last week (The third week of March), DeFi sector was on top as the best performer as of 8.58%.
DeFi sector has endured serious losses since the last peak season of 4Q 2021 with some DeFi 2.0 having almost 90% declines since ATH. Gaming sector is brining steady one-by-one increase having some new trends and high potential concept and games.
7 Days Cumulative ROIs by Sector
DeFi 2.0 Decline, Almost 90% Losses
Total Market Cap has been consolidating within a pennant pattern.
It moves horizontally and then at some point may break this boring and narrow pattern that could lead to huge change in the direction it breaks from it.
But based on some on-chain data, there are not many positive signals as well. That means the big direction could be negative.
Source: Messari