DeFI Coin Price Forecast: DEFCUSD Price to Retest the $0.1450 Resistance Value Soon

Updated:

DeFI Coin Price Forecast – August 22

DeFi Coin price forecast anticipates a pump in price from the support level to hunt for liquidity at $0.07590. The market created large gaps of market inefficiency on the 22nd of July. The bulls are expected to retrace higher to mitigate the region of the market’s inefficiency.

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

Significant Levels:
Supply Zones: $0.07590, $0.0830
Demand Zones: $0.07180, $0.06750
DeFI Coin PriceDeFI coin has revealed obvious bullish reversal signs. A divergence has been spotted between the lows of the RSI (Relative Strength Index) and the lows of the hourly chart. While the price action formed a lower low on the 20th and 21st of August, the RSI signaled an early bullish shift with a higher low.

DeFI Coin Price Forecast: Market Outlook

The demand level at $0.06750 has provided support for the bullish run on DEFCUSD. The price of DeFI reached $0.06750 on the 21st of August. A prominent shadow formed beneath the candle that tapped the demand level to signify a rejection. This has caused the intraday candles to bounce off the demand level.

The market is currently correcting back upward to cover for the market inefficiency. The areas of inefficiency above the $0.06750 are serving as a magnet to draw price. The market has broken off a falling triangle to seek liquidity at $0.07590.

The hourly candles have pressed on the lower Bollinger Band to provide bullish support at the $0.06750 support level. The MACD ( Moving Average Convergence Divergence) indicator also favours the push-up of the price as it lurks in the oversold region.

DEFC Medium-Term: Trend Bullish (15-minute chart)

The 15-minute chart shows a steady rise from the support level at $0.06750. The current accumulation phase is expected to lead to a bullish distribution above $0.07180.
DeFI Coin PriceThe market is expected to rally to attack buy-side liquidity. A clean high above $0.07590 is likely to be the next aim of the bulls.


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.