DeFI Coin Price Forecast: May 20
The DeFI Coin price forecast is a bullish reversal at the $0.2320 demand level. A bullish divergence indicates the beginning of a shift in the market’s delivery.
DEFCUSD Long-Term Trend: Bullish (30-Minute chart)
Key Levels:
Supply Zones: $0.5650, $0.4730
Demand Zones: $0.3730, $0.2320
DEFCUSD coin volatility has reduced significantly, showing the weakness of the bears in the retracement phase. The very small gaps reveal the bears’ exhaustion as the market corrects.
DeFI Coin Price Forecast: DeFI Coin Outlook
DEFC was revived as May started with the bulls taking the lead. The average true range peaked with significant highs, revealing the strength and volatility of the bullish run.
On the 7th of May, the bulls were faced with a new resistance at $0.5630. The impulsive run which had lasted for a few days was brought to a temporary pause.
The volatility of the market was reduced significantly as the market gyrated in the correction phase. The Average True Range seems to be moving sideways since the 18th of May. This is an early sign of bear exhaustion as the market approaches the $0.2320 support level.
DEFCUSD Medium-Term Trend: Bullish (5-Minute Chart):
DEFCUSD bullish divergence is prominent on the 5-minute chart as the market reaches the demand zone.
DEFC has made a lower low as the Relative Strength Index (RSI) has made a higher low. This is expected to present a bullish reversal at the $0.2320 support zone. The bulls are likely to take advantage of the support level to ascend to $0.3730.
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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