DeFI Coin Price Forecast: DEFCUSD Is Poised to Retest the $0.147500 Supply Level

Updated:

DeFI Coin Price Forecast – August 15

The DeFI Coin price forecast is that the market will drive again towards the $0.147500 supply level with the aim of violating the level at the third try.

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

Key Levels:
Supply Zones: $0.147500, $0.138900
Demand Zones: $.131700, $0.122000
DeFI Coin Price Forecast: DEFCUSD Is Poised to Retest the $0.147500 Supply LevelAfter an initial setback, DEFCUSD has the motivation to break through the $0.147500 supply level. The steady uptrend movement of the price, which helped it pierce through several key zones, was halted when it got to $0.147500. This, in turn, led to a drop in the market. However, market forces are now working on the price as it switches into consolidation, preparing for a retest of the supply level.

DeFI Coin Price Forecast: DEFCUSD Market Prospects

DeFI Coin also had difficulty bypassing the $0.122000 price level, and it didn’t make it through the first trial. A pullback to $0.106200, a bit of consolidation, helped reinforce the bulls to break the level at the second trial.

The coin is now facing a similar obstinate key level at $0.147500. The first two trials of bypassing the supply zone have been futile. DEFC bulls will now adopt a familiar strategy to pull back for support before a retest of the zone.

The retest has sunk the RSI (Relative Strength Index) line into the oversold level, but a gradual uptrend of the RSI line shows increasing bullish impetus. This is despite the fact that the market is still in consolidation.

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

On the 15-minute chart, the market is now asking questions about the $0.138900 resistance, which happens to be the price in consolidation. Therefore, the bulls are already on the prowl and will easily violate this level on their way to breaking through the strong supply level at $0.147500. The price will then move to cover more ground.
DeFI Coin Price Forecast: DEFCUSD Is Poised to Retest the $0.147500 Supply LevelThe consolidation of the market gives the RSI line an undulating outlook, such that it is cranking from the oversold to the overbought zones. Now that the coin is intent on breaking $0.138900, the line is expected to abide longer in and around the overbought zone. The Parabolic SAR (Stop and Reverse) dots have lined up more below the 15-minute candles to this effect.

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.