DeFI Coin Price Forecast: DEFCUSD is set to Correct Upwards From $0.07170

Updated:

DeFI Coin Price Forecast – September 1

The DeFI Coin price forecast shows that the market is gearing up to hit the $0.07900 price level, as the market maintains its movement within the bullish channel.

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

Significant Levels:
Supply zone: $0.07520, $0.06960
Demand zone: $0.07170, $0.06740
DeFI Coin Price Forecast: DeFi Coin to Correct Upwards From $0.07170
On the 31st of August, the DEFC market retested the supply zone at $0.07170 to garner as much buying pressure as the bulls again sought to take over the market. The market is thus expected to correct back above the higher-high around $0.07800 price level.

DeFI Coin Price Forecast: Market Outlook

The Relative Strength Index (RSI) indicator is currently around the 25.00 mark, which signals that the market has already been oversold.

This indicates that the market is soon ready to correct upward as buying activity resumes vigorously.

The Stochastics indications also show an overly sold market, which needs to be corrected. Buyers are soon expected to take advantage of this, as they continue to push the market higher up the price chart.
As the channel on the price action chart shows, the market has largely maintained a bullish trend since the 27th of August. This has seen the market form a series of higher highs after each higher low that formed. The market is expected to form a new higher high around the $0.07900 region, after the recent higher low formed at the $0.07150 zone.

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

On the 15-minute chart, the Relative Strength Index (RSI) shows a steeper decline, revealing an urgency for a price correction in favour of the DEFC buyers.

DeFI Coin Price Forecast: DeFi Coin to Correct Upwards From $0.07170

The last two (2) significant lows on the 15-minute chart have only led to a greater upward run from the bulls. This can again be expected as the market continues to rise within this bullish channel.

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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.