DeFI Coin Market Expectation: DEFCUSD Downward Breakout Is a Trigger for Bulls

Updated:

DeFI Coin Market Expectation – July 12

The DeFI Coin market expectation is for more buyers to influence the market in an upward direction. This will be an alteration from the current sideways trend.


DEFCUSD Long-Term Trend: Bullish (1-hour Chart)

Key Levels:
Supply Zones: $0.16460, $0.14750, $0.13170
Demand Zones: $0.11770, $0.11330, $0.08760
DeFI Coin Market Expectation: DEFCUSD Downward Breakout Is a Trigger for Bulls
DeFI Coin is on the verge of altering its current sideways movement. The bears and bulls have been in a tussle, cancelling each other. The price is currently in a bearish round of consolidation. More significantly, the coin has breached the border support downward at $0.11330. This is expected to trigger the buyers into a strong retaliation that will push the price upward out of the ranging zone.


DeFI Coin Price Forecast: DEFCUSD Market Prospects

The border support for the DeFI ranging activity is set at $0.11330.The price appears cranking between this level and the $0.1646 resistance level.

However, as the market continues in a sideways movement, DEFCUSD seems to be attaining lower highs. This is a result of bearish pressure. This continues till the price finally breaches the $0.11330 border support.

This market move is expected to trigger the market’s buyers. The RSI (Relative Strength Index) line has quickly plunged into oversold territory, meaning we can anticipate an imminent rise in the market.


DEFCUSD Medium-Term Trend: Bullish (15-Minute Chart)

The 15-minute chart shows that the market purchasers are beginning to reach around $0.10640, immediately after a downward spike. The ATR (Average True Range) indicator suggests that market reversal would likely be gradual unless market forces interfere. This is seen as the ATR line takes a sharp dip.
DeFI Coin Market Expectation: DEFCUSD Downward Breakout Is a Trigger for BullsMeanwhile, the RSI chart on the 15-minute chart aligns well with that of the 1-hour in that its line has plunged into an oversold region. However, we can see that more information suggests a reversal is already starting as the RSI line has taken a sharp bend in an upward direction. DEFCUSD will now aim for the $0.16460 significant resistance level.

You can purchase DeFi Coin here: Buy DEFC

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.