DeFi Coin Price Forecast: DEFCUSD Market Makes Moves to Return Up

DeFi Coin Price Forecast: October 5

The DeFi Coin price forecast posits that the crypto market is gradually returning from the demand level price retest. Earlier in October, the market made a swift move to retest the price level at $0.06950, after the bullish momentum began to be unsustainable. 

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

Significant Levels:

Supply zone: $0.09340, $0.07390

Demand zone: $0.07650, $0.06960

The bearish motion has enabled DEFC to make room for more buyers who would like to take advantage of the dip. And true to the retest motives, the market can be seen making headway back to the upper price levels. However, the market is faced with a fight from the bears, who seek to sell out of panic.

DeFI Coin Price Forecast: Market Outlook

Stochastic indicates has been pushed to an oversold point, after the impulsive bearish run. This would mean that the market has reached a saturation point and can’t continue in the former direction. There is thus an avenue for buyers to take over the DEFCUSD market given the massive discount the current price provides.

The RSI (Relative Strength Index) also shows that the DeFi market is at an oversold level due to the drastic bearish pressure infused into the market on Sunday. The current market is creeping below the average price gap of the indicator, which can only mean that selling for the bears is no longer attractive. This means that swing traders are expected to tap into the potential of the next market bullish phase. 

MACD however, indicates that the market is already returning from the oversold level and is currently reaching equilibrium. The indicator suggests that DEFC price has recovered from the bearish pressure. However, the market is currently at an equilibrium level for buyers and sellers alike. 

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

The 15-minute chart depicts a flat bullish market with a slow but steady upswing. The stochastic and RSI indicators, however, still depict the market at an oversold level.

As time passes, more buy traders are expected to make an entry into the market around the current price level. The market is expected to return to the nearest supply level as soon as possible. 

You can purchase DeFi Coin here: Buy DEFC

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