DeFI Coin Market Prospect: DEFCUSD to Strengthen at Weekly Demand Level

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DeFI Coin Market Prospect – August 2

The DeFI Coin market prospect is for the coin to pull back to a strong weekly demand level where the bulls are expected to strengthen themselves before another market rally.

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

Key Levels:
Supply Zones: $0.113300, $0.117700, $0.122000
Demand Zones: $0.08760, $0.080590, $0.106200
After a prolonged period of a downtrend movement, in which the bulls were denied expression several times, DEFCUSD finally broke free of a downward trending channel just before July ended. The coin thus begins a new month with newfound bullish freedom. The price is currently pulling back to strengthen before another rally.

DeFI Coin Price Forecast: DEFCUSD Market Prospects

A lengthy period of consolidation was the strategy by which the bulls eventually strengthened to break through the upper border of their descending channel. A rally from the consolidation on the 28th of July broke the limit.

The coin is now free of those restrictions, and the first thing it does is push through to $0.122000. However, to reach a further higher level, the price has pulled back to the $0.106200 significant level. The price is expected to spring up from there.

The result of the pullback is that the market has traded below the MA period 30 (Moving Average). The Parabolic SAR (Stop and Reverse) also aligns its dots above the candlesticks to signify a downtrend.

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

In pulling back, the market has dropped below two key levels and is now approaching $0.106200. There is a long line of the Parabolic SAR dots above the 15-minute candlesticks like on the 1-hour chart. Bulls have stationed themselves at the $0.106200 demand level to jump into the market.
While the market has also dropped below the MA period 30 on the 15-minute time frame, it is not too far from it. This means it will take minimal effort for the price to get back above the Moving Average line, which will further push up the market. The price is therefore expected to spring up from the $0.106200 demand level.

You can purchase DeFi Coin here: Buy DEFC

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