DeFI Coin Market Prospect: DEFC Successfully Breaks the Upper Barrier

Updated:

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
DeFI Coin Market Prospect: DeFI Coin Successfully Breaks the Upper BarrierDEFCUSD 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.


DeFI Coin Price Forecast: DEFCUSD Market Prospects

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.
DeFI Coin Market Prospect: DeFI Coin Successfully Breaks the Upper BarrierFrom 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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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.