DeFI Coin Price Forecast: DeFI Coin (DEFC) is Set to Rise Higher after breakout of$0.07520

Updated:

DeFI Coin Price Forecast: August 30

The DeFI Coin price forecast predicts that the market will rise above the $0.07520 price range, where it has stayed for weeks. A spike on the 29th of August saw the market correct to the price from where it moved to retest the price at the previous supply zone.

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

DEFCUSD Significant Levels:
Demand zone: $0.07170, $0.06740
Supply zone: $0.07520, $0.06960

DeFI Coin Price Forecast: DeFI Coin (DEFC) is Set to Rise Higher after breakout of$0.07520

The price retest at the higher low at $0.06960 means that the market has garnered enough strength to move up to the upper supply zone. This momentum is enough to cause a breakout of the long-standing resistance zone, as we have seen on the chart already.

DeFI Coin Price Forecast: Market Outlook

On the price chart, the Moving Average (SMA) period nine (9) can be seen to indicate that the upward motion of the DeFI coin price should be expected to continue. The price is also predicted to continue this run, as the period twenty-one (21) indicator shows.

The Parabolic SAR (Stop and Reverse) indicator confirms that the price is still on its trend up the price action chart. This indicator also shows that the price is ready to go above the $0.07520 price significantly this time around.

On the 28th of the month, the market formed a higher low at $0.06960, in contrast to the lower low formed on the 21st, below the $0.06600 range. What this implies is that the DeFI coin can be expected to go higher and test new heights.

 

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

The recent bounce off at the $0.06960 mark is a confirmation of the continuation pattern the market formed in the past week, which is only expected to continue.
DeFI Coin Price Forecast: DeFI Coin (DEFC) is Set to Rise Higher after breakout of$0.07520This is expected to happen while the market continues along the trend line, marking the DeFC price uptrend on the price chart.

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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.