DeFI Coin Market Expectation: DEFCUSD Is Bordering the Overbought Zone

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DeFI Coin Market Expectation – July 15

DeFI Coin market expectation is for the coin to snap out of a seeming sideways movement and gather momentum to violate the descending trend line line. 

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

Key Levels:

Supply Zones: $0.12200, $0.13170, $0.13890
Demand Zones: $0.10620, $0.11330, $0.11770

DeFI Coin Market Expectation

DEFCUSD is now on a gentle path in its upward movement. The price has done exceptionally well to get beyond the $0.11330 and the $11770 significant levels. The market is on the verge of bypassing the next resistance level at $0.12200. The bears make their presence felt by temporarily blocking the upward movement on the coin. Buyer are nonetheless confident that they’d make it through beyond this level.


DeFI Coin Price Forecast: DEFCUSD Market Prospects

A descending trendline hangs above the market to act as a barrier to the upflow of the price. It has previously limited the market, but the buyers are eager to break the continuous capitulation trend below this trendline.
 
But before the price breaks the descending trendline, it needs to rise beyond the $0.12200 significant level. The line of the MA cross (Moving Average) are aligned below the 30minute chart.

The RSI (Relative Strength Index) line first rose directly upward towards the overbought region, after which the market began to hover below the region.
 

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

On the 15minute chart, the price is now moving in a sideways movement. It can be seen that the price has to pull back towards $0.111330 before it pushed beyond $0.11770. DeFC is now leaning back on $0.11770 as it prepares to break through $0.12200. The MA cross (Moving Average) is moving sideways with the price.
https://learn2.trade/defi-coin-market-expectation-defcusd-makes-progress-in-an-upward-directionThe RSI (Relative Strength Index) line has risen into the overbought region and dropped. Currently, the indicator line is undulating about the equilibrium zone. When the price eventually violates the immediate resistance level, it will come face to face with the descending trendline. The bulls are also expected to attack at this phase.

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.