DeFI Coin Price Forecast: DeFI Coin Dives to Support Level in a Bearish Channel

DeFI Coin Price Forecast: June 21

DeFI Coin price forecast is calling for a market reversal at $0.0940. The market currently lurks around support levels on DeFI’s market.

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

DEFCUSD significant Levels:
Zones of supply: $0.5660, $0.3850
Zones of demand: $0.2810, $0.0940.

DeFI Coin Price Forecast: Market Outlook

The market has been in a correction phase since the 7th of May after the bullish surge. The correction phase is less volatile compared to the bullish rally from $0.0940. The Moving Averages (period twenty and fifty) crossed beneath $0.5660 to signify the initiation of the retracement.

The retracement paused temporarily at $0.2810. The candles touched the parallel channel’s lower border that guided the retracement market. The level at $0.2810 provided support for the bulls. This caused the market to consolidate between $0.3850 and $0.2810.

DeFI Coin was trapped in the consolidation from the 13th of May till the 13th of June. The market retracement continued as the market drove through $0.2810 to seek support at lower prices.

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

The market is currently closing in on the demand level at $0.0940. This will likely excite the bulls to go long from the demand level.
The lower edge of the parallel channel is also expected to provide sufficient support for the bulls to go long. The market is expected to rise towards $0.2810.

You can purchase DeFi Coin here: Buy DEFC

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