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DeFI Coin Price Forecast – August 12
The DeFI Coin price forecast is that the coin will continue its undulating movement in an upward direction. The market will break the $0.147500 resistance using this.
DEFCUSD Long-Term Trend: Bullish (1-hour Chart)
Supply Zones: $0.147500, $0.138900
Demand Zones: $.131700, $0.113300
Since DeFI Coin broke the $0.106200 price level, it has continued undulating upward and breaking several price levels in the process. The Bollinger Bands by which the market is conducted also show the alternating movement of the price. DEFC has now ascended to the level of the $0.147500 resistance. The market has dropped and is expected to rise again in its upward movement.
DeFI Coin Price Forecast: DEFCUSD Market Prospects
The reason for the sustainable movement of DeFI Coin in an uptrend emanates from its extensive consolidation period around the $0.876000 price level.
With the momentum accumulated, the market broke the key level of $0.106200. The major barrier which caused a drawdown in the market is at $0.122000, but it was eventually violated by the bulls.
The price is now trying to bypass the $0.147500 key resistance level. The 1-hour candles are leaning heavily on the lower Bollinger Band for support to spring back upward.
DEFCUSD Medium-Term Trend: Bullish (15-Minute Chart)
The 5-minute chart shows clearly that the market has now dropped below the $0.138900 price level. This has caused the RSI (Relative Strength Index) line to sink into an oversold position. As a result, the market is gearing up for a backlash from the bulls.
On the 15-minute chart, the market is also heavily reliant on the lower Bollinger Band for support to spring back upward. The odds are in favour of the bulls to reverse at or before it gets to $.131700. When the coin springs back upward, it is expected to violate both the $0.138900 and the $0.147500 resistance levels and rise even further.
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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