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

Updated:

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: DeFI Coin Dives to Support Level in a Bearish ChannelDeFI 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.
DeFI Coin Price Forecast: DeFI Coin Dives to Support Level in a Bearish ChannelThe 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

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.