DeFi Coin Price Forecast: DEFC Price Is Ready for a Breakout

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DeFI Coin Price Forecast: October 12

The DeFi Coin price forecast is that DEFCUSD price will make the long-awaited breakout as bulls are ready to have a field day. The coin’s price has finally retested the support level at $0.07160 to get the momentum it needs to rise back up.

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

Significant Levels:

Supply zone: $0.07650, $0.07290

Demand zone: $0.07500, $0.07160

DeFi Coin Price Forecast: DEFC Price Is Ready for a Breakout

The support level at $0.07160 is not expected to cave in as it has remained standing for a long time. This demand level of DEFC is expected to bring in the enthusiasm needed to drive the passes up again. The price will again be expected to bounce off after this quick retest, as the market did on the 8th of the month.

DeFI Coin Price Forecast: Market Outlook

The Average Directional Index indicates that the market’s direction is currently treading a path that signals its weakness. The bearish momentum that pushed for the price retest is gradually waning, and a retracement can be expected soon.

The Stochastic indicator, on the other hand, indicates that sellers have pushed the DEFC market to an oversold point. At this point, the market can only be expected to turn in this direction.

The RSI (Relative Strength Index) also shows that the DEFI market is running toward an oversold point due to the drastic bearish pressure that affected the demand level price retest. DEFI coin market has been forced to make a U-turn after reaching $0.07650 because the last retest did not generate the anticipated enthusiasm in buyers.

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

On the 15-minute chart, however, the True Strength Index has risen past the centerline, suggesting that the market is ready to go bullish. The indicator already predicts that the market will start its move up the chart.

DeFi Coin Price Forecast: DEFC Price Is Ready for a Breakout

The market is expected to make a turn at its current point. The bullish retrace will occur soon as the price bounces off the trendline.

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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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.