$MORPHO 's protocol keeps growing while its token keeps falling — and this week the two stories met at $2.00.
I keep coming back to that gap. Morpho added roughly $304 million in total value locked over the past week, to about $11.4 billion, while DeFi overall shrank. Its dollar-stablecoin market on Arbitrum hit $115 million in 18 days, and tokenized-stock collateral went live on October 22.
The token tells the other half. It slid from $2.57 on October 19 to $2.00, tapped that floor twice on Monday, then climbed on rising closes — $2.03, $2.07, $2.12, $2.13, $2.14 — to $2.18 this morning.
Support is the $2.00 floor. Resistance is $2.30, the shelf from October 22–23. A 4-hour close under $2.00 breaks the floor story; above $2.30, $2.50 comes back into view.
The doubt is plain: this is still a bounce inside a slide, and protocol usage is not token demand.
These are the levels I'll check back on — does
$MORPHO hold $2.00 from here, or does $2.30 come first?
Not financial advice. Do your own research.
$MORPHO #DeFi #Morpho #Lending #CryptoTrading