#morpho $MORPHO
Current Market & Chart Snapshot:
MORPHO's price is consolidating within a broader downtrend, facing resistance near the $2.80 - $3.00 zone. The chart structure remains bearish, trading below key moving averages, indicating selling pressure persists.
Key levels to watch:
· Resistance: A clear break above $3.20 is needed to signal a potential short-term trend change.
· Support: The $2.20 - $2.40 area has acted as a floor; a breakdown could target the $2.00 psychological level.
Volume is relatively low, typical of consolidation. The RSI is neutral, not indicating strong momentum in either direction. The price action reflects a battle between the protocol's strong fundamentals and the ongoing market-wide headwinds for DeFi assets.$MORPHO
