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DeFI Coin Price Forecast – August 26
The DeFI Coin price forecast shows that the market is about to retest the price level at 0.07460 to gain as much momentum to continue its current uptrend. The market is ready to break the $0.07550 price level that it held on the 22nd of August.
DEFCUSD Long-Term Trend: Bullish (1-hour chart)
Supply zone: $0.07550, $0.06930
Demand zone: $0.07160, $0.06820
Since the rejection that happened on the 21st of August, DEFCUSD market has continued a stepwise bullish motion, rising back to the $0.07550 price it was initially at.
DeFI Coin Price Forecast: Market Outlook
The Moving Average period 20 on the Bollinger Band (BB) is currently indicating a bullish direction for the market. However, the market is on its way to retesting the price at $0.07460 on the trendline.
The current movement on the chart shows a continuation of the zigzag upward run the market is experiencing. After the bulls had impressive runs from the afternoon of the 24th till the 25th, the market needed to retest the price at 0.07460 to return to its current trend upwards.
The indication by Stochastic is a buy signal as it shows that the market has moved to the oversold region. This means the bulls are ready for another takeover as buying activities resume. This short retracement is in a bid to generate enough momentum for the market to continue its push upwards.
DEFC Medium-Term: Trend Bullish (15-minute chart)
The present pullback is set to continue the bullish trend. The pullback is expected to generate sufficient buying pressure to break out of the supply level and shoot for new heights.
The consistency of the market’s zigzag uphill movement is an indicator that the current retracement is just another bullish attack waiting to happen.
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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