DeFI Coin Price Forecast: DEFCUSD Pulls Back for Bullish Reinforcement

Updated:

DeFI Coin Price Forecast – July 7

The DeFI Coin price forecast is for the market to regain its bullish stamina by retracement. The coin is expected to charge past the $0.13890 resistance level after it acquires bullish reinforcement.
 


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

Key Levels:
Supply Zones: $0.14750, $0.13890, $0.13170
Demand Zones: $0.12200, $0.11770, $0.11330
DeFI Coin Price Forecast: DEFCUSD Pulls Back for Bullish ReinforcementDEFCUSD was still held in consolidation as of the 20th of June when it stored up bullish momentum. When the price eventually broke out, it charged upward, breaking through several significant levels. Most notably, it bypassed $0.13170 and $0.14750. However, the market couldn’t hold above $0.14750, and bears took advantage to plummet the coin back to $0.11330. DEFCUSD is in the process of reclaiming lost levels. 
 


DeFI Coin Price Forecast: DEFCUSD Market Prospects

Similarly, the price accumulated strength from consolidation and broke out on the 4th of July. However, as the price approached $0.13170, it recoiled backwards for bullish reinforcement.
 
The coin then sprang off the $0.12200 key level and broke through $0.13170. A similar scenario is repeating below $0.13890. The price is retracing for bullish reinforcement.
 
The MA (Moving Average) period 50 remains mainly below the 1hr candlesticks, but the price has traded below it in a bearish move. However, the Stochastic Oscillator lines have dropped well into the oversold region, which suggests an imminent reversal.
 


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

The 15-minute chart shows that the market has dropped below the $0.1317 critical level and that the Moving Average period 50 has completely switched positions above the 15-minute candlesticks. This is evidence of the retracement of DeFI as it searches for bullish reinforcement at lower support levels.
DeFI Coin Price Forecast: DEFCUSD Pulls Back for Bullish ReinforcementThe coin is expected to find a foothold, from which it is expected to bounce back upward strongly. The Stochastic Oscillator lines, like on the 1hr chart, have also dropped into oversold, and a price reversal is imminent. When the bulls receive reinforcement, the market is expected to break beyond $0.14750.
 
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.