DeFI Coin Market Expectation: DEFCUSD Drops to Get More Buyers on Board

Updated:

DeFI Coin Market Expectation – July 10

The DeFI Coin market expectation is for more buyers to hop on the market after it plunges back to the $0.11770 demand level. This will enable the market to be more forceful in future, breaking the $0.1389 supply level.


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

Key Levels:
Supply Zones: $0.12200, $0.13890
Demand Zones: $0.11330, $0.11770
DeFI Coin Market Expectation: DEFCUSD Drops to Get More Buyers on BoardDeFI Coin was left short of buying power when it reached $0.13890. This results in the market pulling back to $0.1317 to gather more bullish strength. The price bounced back, but it was still too weak to test the $0.13890 resistance level. Eventually, the coin has to take a deeper plunge to a lower demand level at $0.11770 for more buyers to enter the market at a lower price.


DeFI Coin Price Forecast: DEFCUSD Market Prospects

The $0.11330 significant level seems to be a springboard for the market. DEFCUSD traded above this level from the 2nd to the 4th July before beginning to rise towards $0.13890.

There was a pullback on the 5th of July to gain more bullish stamina to break the $0.1317 resistance on its way upward. By the time the DeFI Coin reached $0.13890, it was too weak, and another strengthening was needed.

A pullback to $0.1317 as support wasn’t sufficient, and the price has now returned to the $0.11770 support level. The lower Bolling Band is an extra support layer to keep the price above $0.11770.


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

Meanwhile, the MACD (Moving Average Convergence Divergence) lines on the 1 hr timeframe have curved upwards, accompanied by bullish histogram bars. On the 15-minute timeframe, however, the lines range around the equilibrium level. It all points to the growing influence of the buyers at this time as they recover it from the sellers.
DeFI Coin Market Expectation: DEFCUSD Drops to Get More Buyers on BoardTherefore, on the 15-minute chart, the price is seen to have started ranging with the $0.12200 price level as resistance to the market. The market is using the opportunity to allow more buyers to hop on board, after which there will be more strength to test the $0.13890 resistance level again.

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.