DeFI Coin Price Forecast: DeFI Coin Initiates Buy-side Delivery at $0.1470

DeFI Coin Price Forecast: June 16

DeFI Coin Price forecast is anticipating a build-up of a new ascending trend due to the reversal at $0.1470.

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

DEFCUSD significant Levels:
Zones of supply: $0.3300, $0.2790
Zones of demand: $0.1750, $0.1470
.1470" width="1654" height="863" data-lazy-src="https://learn2.trade/wp-content/uploads/2022/06/Defi-1Hr-7.png"/> The market has delivered sell-side delivery from the resistance level at $0.3300 to the support at $0.1470. The market has shown the initiation of buy-side delivery.

DeFI Coin Price Forecast: Market Outlook

The market was in consolidation below the resistance level at $0.3300. There was a breakout of the consolidation around midday towards the support level at $0.1750. The Moving Averages crossed sideways during the consolidation. The Moving Average period nine eventually rested below the Moving Average period twenty-one to indicate the breakout.

Multiple accumulation phases formed as the market reached the demand level of $0.1470. The sell-side delivery of the market to the demand level has created inefficiencies. The inefficiencies are expected to pull the market for the new buy-side delivery—the Moving Averages (period nine and twenty-one dominated the intraday candles towards $0.4170.

The market hit the demand level of $0.1470 on the 14th of June. This led to the push-up in price towards $0.1750. A swing high was formed after the first test of the demand levels. The second test of the demand level led to the sweep of the swing-high, signifying a reversal.

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

The market has experienced a bullish structural shift. This is likely to excite the bulls to buy more DeFi coins.

The buying pressure is expected to increase rapidly to form an ascending trend. The market is expected to draw towards the resistance level at $0.2790.

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