DeFI Coin Market Prospect: DEFC Successfully Breaks the Upper Barrier

DeFI Coin Market Prospect – July 31

DeFI Coin market prospect is for the market to reach higher levels after it successfully violates the upper border of its descending channel.

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

Key Levels:
Supply Zones: $0.106200, $0.122000
Demand Zones: $0.08760, $0.080590
DEFCUSD has now made some headway after a highly anticipated breakout. A pumped-up market spends little time close to the upper border before it gets the chance to violate it. Shortly before this breakthrough in the market, the coin passed through a minimal consolidation in which it was moving in a predominantly sideways movement.

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DEFCUSD has been confined to a descending channel since the beginning of the month. However, the price has been trying, again and again, to put a stop to the bearish trend without much success.

The market has recently tested the upper limit on the 10th and 16th of July. A serious plunge followed the market, especially after the 16th test. This led the market into a short-term consolidation that lasted days.

The coin then surges upward on the 27th of July. The MA cross (Moving Average) also crossed upward on the same day. A slight hold-up happened at the barrier before DeFI Coin successfully found its way through.

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

As a result of the upsurge, the RSI (Relative Strength Index) line on the 1-hour chart has lifted directly from an oversold region into an overbought one. After undulating for a short while, it has dropped below the overbought border but remains in the upper region of the RSI chart.
From the 31st of July, this same image is portrayed on the 15-minute chart of the RSI, but this deals more with after it has broken out. It means the price has dropped for a retracement. We can then expect the coin to drive upwards past the $0.122000 level. The MA cross has presently crossed upward also.

You can purchase DeFi Coin here: Buy DEFCUSD

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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