DeFI Coin Price Forecast: June 8
The DeFI Coin price forecast is towards a total change in market direction. This is aided by the break out from a descending channel.
DEFCUSD Long-Term Trend: Bullish (1-hour chart)
DEFCUSD significant Levels:
Levels of resistance: $0.3920, $0.3760
Support Level: $0.2960, $0.2830
The DEFCUSD coin bulls got exhausted as the market reached $0.3920, the major level at $0.3920. This led to a bearish structural shift in the market.
DeFI Coin Price Forecast: Market Outlook
The Moving Average Period eighty-nine acted as further resistance as the market tested the supply level at $0.3760. The Moving Averages eventually crossed on the 31st of May as the market descended through the bearish channel. This led to the selloff to the demand level at $0.2960.
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.
The market’s volatility dropped significantly as the market descended through the descending channel. The Average True Range dropped significantly as the market plummeted.
The market has created a range since the 12th of May. The price has gyrated between $0.3920 and $0.2830. The market has just leapt off the support level at $0.2960. The Moving Averages have crossed below the recent hourly candles to foster the price rise.
DEFC Medium-Term: Trend Bullish (15-minute chart)
The bullish structural shift is clear in the lower timeframe. A change in the market direction occurred at $0.2960, resulting in a market structure break.
The bullish break of the structure is expected to prompt further buying of Lucky Block. The market is expected to rise to $0.3760.
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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