DeFI Coin Price Forecast: DeFI Coin Breaks Out of Descending Channel

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DeFI Coin Price Forecast – June 8

The DeFI Coin price forecast calls for $0.3760 as the bulls’ next target. The bullish divergence on the RSI (Relative Strength Index) has led to a leap over the $0.2960 resistance level. The DeFI Coin price forecast is bullish. The Moving Average Period eighty-nine and two hundred has shifted below the intraday candles to support the bullish reversal.

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

DEFCUSD significant Levels:
Resistance level: $0.3920, $0.3760
Support Level: $0.2960, $0.2830
The DEFCUSD coin reached a significant resistance level on the 25th of May. The Stochastic revealed that the market was overbought. The effect was seen immediately as the market price started dropping.

DeFI Coin Price Forecast: Market Outlook

The Moving Averages descended through a creek. The key level at $0.3760 acted as resistance. The Moving Average period eighty-nine resisted bullish movement at $0.3760. The Moving Averages period eighty-nine and the Moving Average Period two hundred crossed on the 31st of May to confirm the sell to buy price action.

The support level at $0.2960 prompted the bullish reversal on the 3rd of June. The bearish trend line formed a bullish confluence with the support level.

There was a break out of the bearish channel on May the third. The market retraced to retest the descending trendline on the 7th of May to aid the bullish rally.

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

On the 15-minute chart, the Moving Average period eighty-nine has crossed below the candles. The Moving Averages are supporting prices on the higher time frame and the lower time frame.
$0.3760 appears to be the nearest liquidity pool. The bulls are expected to rise to $0.3760.

You can purchase DeFi Coin here: Buy DEFC

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