DeFI Coin Price Forecast: DEFCUSD Price Heads for a New High

DeFI Coin Price Forecast: September 23

The DeFi Coin price forecast indicates that the DEFC value has returned to a steady rise in the cryptocurrency market. The market has regained its momentum after briefly retesting the demand level at $0.07420, and it is expected to rise back to its previously held position of $0.07940.

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

Significant Levels:
Supply zone: $0.07940, $0.07290
Demand zone: $0.07420, $0.06960

This rise has not come without some struggles with the bears, however; the buyers got their breakthrough in the early hours of the 22nd of the month. After this, we see three bullish candles form consecutively (however, not the three wise men). This, however, suggests that the DEFCUSD market is in for another bullish attack.

DeFI Coin Price Forecast: Market Outlook

The Parabolic SAR indicator shows an aggressive buyers’ market. The market rose swiftly from $0.07500 to the current price, in a quite impressive run of form. The SAR indicator can’t help but show its support of this DEFC price long position.

The Moving Average (MA) period 15 shows that the market’s upward direction will hold much longer. The period 30 indicates the same thing about market movement.

The True Strength Index indicates that the price has risen above the signal line, implying that the DEFC market is, as of the moment, in a bullish phase. As the price is nowhere near an oversold region, these buying sprees can be anticipated to continue much longer.

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

As illustrated on the price chart, the market has largely been on a steady rise within a bullish channel. Nothing at the moment suggests a structural shift, that will change this direction. This movement has also created a zigzag pattern that has seen the market form new highs and lows with every last swing; hence, this last swing is expected to create another high soon. In spite of the last bearish move in DEFC price, the Parabolic SAR still indicates that the market is still on a bullish run. This means that the price will correct soon enough to resume its ascension.

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