DeFI Coin Price Forecast: DEFCUSD to Rise From $0.06970

DeFI Coin Price Forecast: September 16

The DeFi Coin price forecast posits that the DEFC price will press the $0.06970 price level to make an upward rebound. This price retest at the support zone is necessary, as the DEFC seeks to correct upwards.

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

Significant Levels:
Supply zone: $0.07950, $0.07380
Demand zone: $0.07560, $0.06970
The market returns to the level it reached earlier on the 7th of the month. It was from this point that the market began the retracement that resulted in the price peaking at $0.07950. A retest of this price level is suspected to push more buying pressure and activity into the DEFC market.

DeFI Coin Price Forecast: Market Outlook

The Relative Strength Index (RSI) indicates that the price, in a bid to make the retest, has reached an oversold point. This means the market has a correction to make as buyers take advantage of the current price discount.

The ADX indicator (Average Directional Index) on the 1-hour chart shows a gradual waning of strength in the current market trend. The current market direction will therefore not hold for much longer, as a correction in the demand zone remains in sight.

Since the 21st of August, the DEFCUSD market has largely remained in an uptrend that was only broken on the 7th of September. This breakout was what led to the formation of the new high at $0.07950. As the market seeks to return to the same low, this signifies that a structural shift has occurred. And this could be expected to ultimately lead to the formation of a new high.

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

The ADX indicator on this time frame shows the market’s determination to reach the base price at $0.06970 for it to generate the momentum it needs to begin its assail up the price chart. The RSI indicator shows an extremely oversold market. This implies that sellers are currently at a disadvantage since the market is poised to drive the DEFI coin price up again.

You can purchase DeFi Coin here: Buy DEFC

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