DeFI Coin Price Forecast- DeFI Coin Gyrates in an Accumulation Phase

Updated:

DeFI Coin Price Forecast- June 23

DeFI Coin price forecast is bullish as the demand zone at $0.0950 is still protected by the bulls.

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

DEFCUSD significant Levels:
Zones of supply: $0.50690, $0.3930
Zones of demand: $0.0950, $0.2850.
DeFI Coin Price Forecast- DeFI Coin Gyrates in the Accumulation Phase at a Demand Level
DeFI coin bullish impulse was initiated at $0.0950 during the first week of May. The market rallied to the resistance level at $0.5600.

DeFI Coin Price Forecast: Market Outlook

DeFI impulsive leg was paused at $0.5060. The Average Directional Index rose with the price to reveal the strength of the bullish run. This resulted in a correction phase in the market to complete a wave circle. The price moved back and forth between $0.5069 and $0.3930. The MACD signified an overbought market just before the initiation of the consolidation.

The correction phase gave way to another impulsive phase. The price dropped from $0.3930 to $0.2840. After the impulsive move in price, the market entered into a consolidation.

The price is currently closing in on the demand level at $0.0950. The market has entered a new accumulation phase just above the demand level.

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

DeFI Coin market’s range above the $0.0950 demand level is reflected on the MACD (Moving Average Convergence and Divergence). The lines of the MACD are crossing sideways on the 15-minute chart.
DeFI Coin Price Forecast- DeFI Coin Gyrates in the Accumulation Phase at a Demand LevelThe accumulation phase is expected to result in a bullish distribution phase. The market is expected to rally to the key level at $0.2850.

 

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.