DeFI Coin Price Forecast: DeFI Coin Is Rallying From a Strong Support Level

Updated:

DeFI Coin Price Forecast – August 16

The DeFI Coin price forecast is for the price to eventually break through the resistance to $0.147500. The market is currently accumulating above a strong price level of $0.129000.

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

Key Levels:
Supply Zones: $0.147500, $0.138900
Demand Zones: $0.129000, $0.122000
DeFI Coin Price Forecast: DeFC Is Rallying From a Strong Support LevelDEFCUSD is predicted to rally from its current support level at $0.129000. The coin has thus far been prevented from climbing further upwards by a solid resistance level of $0.147500. Having dropped back to the $0.129000 support, the bulls are gathering momentum for an upward drive that is predicted to violate the barriers and shoot the price even higher.

DeFI Coin Price Forecast: DEFCUSD Market Prospects

A bullish campaign kicked off in the market from the $0.087600 demand level on the 27th of July. This lifted the price above multiple key levels. The upward momentum has been interrupted at $0.147500.

Hence, the market is currently sideways trending, but this is also helping the bulls to gather much-needed momentum, which was exhausted as the price drove to this level.

Hence, it can be observed that the Bollinger Bands have squeezed on the 1-hour candles even as it slides along the $0.129000 support level. The MACD (Moving Average Convergence Divergence) lines are also about the zero level.

DEFCUSD Medium-Term Trend: Bullish (15-Minute Chart)

The 15-minute chart shows that the Bollinger Bands have been even more squeezed around the 15-minute candles in consolidation. Currently, the price is confined between $0.138900 as resistance and $0.129000 as support with the Bollinger Bands wrapped around it.
DeFI Coin Price Forecast: DeFC Is Rallying From a Strong Support LevelThe MACD (Moving Average Convergence Divergence) also confirms a consolidation in the market as the MACD lines wrap around the zero level. DeFI Coin is expected to surge out of this consolidation anytime soon, thereby shattering the current barrier at $0.138900 and the limiting level at $0.147500 to rise even higher.


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.