DeFI Coin Price Forecast: DeFI Coin Experiences Rejection With a Hammer Candlestick

DeFI Coin Price Forecast: June 7

The DeFI Coin price forecast calls for $0.3050 as the bulls’ next target. During the early hours of today, there was rejection at the $0.2960 support level.

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

DEFCUSD significant Levels:
Resistance level: $0.3220, $0.3100
Support Level: $0.3050, $0.2960
The DEFCUSD coin hammer candlestick has revealed the defence of the bulls at the $0.2960 support level. The body of the hammer is lesser than three times the length of the shadow. This clearly shows that the rejection was severe at the support level.

DeFI Coin Price Forecast: Market Outlook

The DeFI coin ascended through the bullish channel from $0.2960 to $0.3220. Before the recent rejection today, the demand zone at $0.2960 had successfully prevented lower pricing of the Defi coin. The demand level was tested on the second and third of June.

The market faced resistance at $0.3100 as it ascended. The bulls pushed through and rallied to $0.3220 on the 6th of June. The Relative Strength Index (RSI) and Stochastic were overbought. This led to a bearish structural market shift.

The Relative Strength Index (RSI) and the Stochastic show that the market is ready to go long. The Stochastic has crossed into the oversold region. This is expected to prompt bullish action on Defi.

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

The demand level at $0.3050 increased the buying pressure on the DeFI coin. A sharp rejection was noticed at the support level. On the 15 minute chart, the rejection is seen as a series of ascending candles. The rejection broke through resistance at $0.3100. After the rejection on the 6th of June, the bullish candle met with a mitigation block. This caused the market price to fall to $0.2960.
$0.3050 appears to be the nearest liquidity pool. The bulls are expected to rise to $0.3050.

You can purchase DeFi Coin here: Buy DEFC

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