BENQI is a decentralized noncustodial liquidity market as well as a liquid staking protocol built on the high-speed Avalanche smart contract network. The lending protocol allows users to lend, borrow, or earn interest using their digital assets. The Liquid Staking protocol provides a solution for capital efficiency, offering users the opportunity to unlock their staked AVAX to be used on Decentralized Financial protocols.
Anyway, the QI start was not bad, considering it went into a long downtrend afterward. Then QI broke the major downtrend line and then tried to make a reversal, which was successful when it broke the first minor horizontal area upward. QI went up, and now it seems oscillating in a big rectangular consolidation area (or some call it a sideways channel). Currently, at the bottom of this area and trying to start the next upward phase. Let's see if QI can break this area and reach the next horizontal resistance area.
Anyway, the QI start was not bad, considering it went into a long downtrend afterward. Then QI broke the major downtrend line and then tried to make a reversal, which was successful when it broke the first minor horizontal area upward. QI went up, and now it seems oscillating in a big rectangular consolidation area (or some call it a sideways channel). Currently, at the bottom of this area and trying to start the next upward phase. Let's see if QI can break this area and reach the next horizontal resistance area.