DeFI Coin Market Prospect – August 7
The DeFI Coin market prospect is for the coin to scale more heights after it successfully breaks out of its descending channel and bypasses the weekly barrier at $0.122000.
DEFCUSD Long-Term Trend: Bullish (1-hour Chart)
Key Levels:
Supply Zones: $0.147500, $0.138900
Demand Zones: $.131700, $0.113300
DEFCUSD bulls are finally finding some expression in the market, and this can be seen in how the market is bulldozing its way upward past several key level. The coin had earlier been limited at the $0.122000 critical level. This made the market beat a retracement back above $0.106200. From here, the price gains strength and surges past the $0.122000 critical level and other key levels also.
DeFI Coin Price Forecast: DEFCUSD Market Prospects
The expansion period from the 18th to the 27th of July has empowered the DeFI Coin very well as it has gone to violate the price levels that have been limiting it. This includes breaking totally out of its descending channel pattern.
Furthermore, the coin has also faced a critical resistance zone at $0.122000 and though it didn’t violate it immediately, a pullback gave it more leeway and the price pulled through the zone at the second time of asking.
The market is still very much bullish. The movement of the RSI (Relative Strength Index) line in and out of the overbought region highlights the strategy being employed by the buyers to bulldoze through the key levels.
DEFCUSD Medium-Term Trend: Bullish (15-Minute Chart)
The market is now gliding upwards above a trend line. The price also used a pullback and retest to break strategy to break the $0.131700 significant level. The price pulled back to $0.122000 to push through. A series of crosses by the MA Cross (Moving Average) indicator shows back and forth movement, but more upward crosses.
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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