DeFI Coin Price Forecast: DEFC Price to Retest the $0.1560 Resistance Value Soon

DeFI Coin Price Forecast – August 5

DeFI Coin price forecast is bullish. The market has experienced a change of character (CHoCH) at the major demand level of $0.0800. The price is currently rising towards the supply level at $0.1560.

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

DEFCUSD Significant Levels:
Supply Level: $0.1560, $0.1370
Demand Level: $0.1100, $0.0800

DeFI coin is currently in a bullish trend. The breakout above the $0.1100 major level was a confirmation to reveal that the bulls had seized control at the $0.0800 demand level.

DeFI Coin Price Forecast: Market Outlook

On the 17th of July, the market price rose to fill the imbalance created by the bears. The Moving Averages of period nine (red) and period twenty-one (yellow) crossed to signify the initiation of a new bullish trend. The Moving Averages crossed after the test of the major demand level at $0.9800.

The bullish momentum has been rising steadily since the beginning of this month. This shows the willingness of the buyers to break the resistance level at $0.1560. Higher highs and higher lows have formed since the bulls used the demand level at $0.0800 to go long in the market.

The market is rising with the support of the ascending trend line on DEFC. The Parabolic SAR (Stop and Reverse) has also formed points below the intraday candles to reveal the market’s uptrend.

DEFC Medium-Term: Trend Bullish (15-minute chart)

The market broke through the major level at $0.1100. The test of the demand level formed a bullish confluence with the rising trend line.
The market is expected to retrace towards the rising trend line to gather more momentum. The market is likely to strike the resistance level at $0.1560 very soon.

 

You can purchase DeFI Coin here: Buy DEFC

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