DeFI Coin Price Forecast: DeFI Coin is Climbing Higher

Updated:

DeFI Coin Price Forecast: August 3

DeFI Coin price forecast is positive due to the retest of the major level at $0.1100. The change in market direction at the $0.0800 demand level has been confirmed since the market has climbed to the significant level at $0.1100.


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

DEFCUSD significant Levels:
Supply Zone: $0.1560, $0.1370
Demand Zone: $0.0800, $0.1100.

DeFI Coin Price Forecast: DeFI Coin is Climbing Higher

DeFI Coin Price Forecast: Market Outlook

The bulls prevented the push through the demand level at $0.0800. The MACD (Moving Average Convergence Divergence) lines, which crossed below point zero on the indicator phase, revealed that the DEFCUSD was oversold. The market rose through a rising wedge as the Moving Averages (period nine and twenty-one) fell below the intraday candles to provide support. The faster Moving Average of period nine (yellow) crossed above the slower Moving Average of period twenty-one (blue).

A bullish breakout above the bearish trend line formed resistance in the market. The bullish surge on the 27th of the previous month prompted the breakout above the bearish trend line. The candles spiked above the upper border of the rising wedge.

The market has retraced to test $0.1100 to prompt upward movement in the market. The Slower Moving Average (period twenty-one) is still resting below the candles to show a continuation of the upward trend.


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

In the 15-minute time frame, the market reacted positively to a test of the demand level at $0.1100. The Stochastic is in the oversold region to signify the continuation of the bullish run.
DeFI Coin Price Forecast: DeFI Coin is Climbing HigherLiquidity is currently resting at $0.1370. The resistance level is expected to draw prices due to the liquidity resting above it. The market is therefore expected to rally to $0.1370.

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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.