DeFI Coin Price Forecast: Defi Coin Is Ready to Take Off From the Oversold Region

Updated:

DeFI Coin Price Forecast – August 22

DeFI Coin price forecast is gearing up towards $0.1360. DeFI Coin bulls are setting up to launch high from the oversold region at $0.6900.

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

Significant Levels:
Supply zone: $0.1360, $0.1590
Demand zone: $0. 07800, $0.1100
DeFI Coin Price Forecast: Defi Coin Is Ready to Takeoff From the Oversold RegionDEFCUSD had a breakout in July, due to high pressure from the falling wedge. The market is currently around the support level at 0.0780. The support level is expected to launch the price back to the major level at $0.1360.

DeFI Coin Price Forecast: Market Outlook

The market appears to be getting ready for a bullish run after the price returned to retest the upper trend line as seen on the chart. This occurred after the bulls broke out of the downtrend.

The last lower high on the chart is before the upper trend line has been broken. The last lower high was violated at the beginning of August, at the $0.1200 mark. This move signals a possible market reversal towards the higher resistance level at $0.1590.

On the other hand, MACD (Moving Average Convergence Divergence) has likewise crossed below average, showing an oversold market. This is also likely to trigger buying pressure at the support level.

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

The RSI (Relative Strength Index) indicates a new buying trend as the market is gradually retracing from the oversold region. The Relative Strength Index is indicating an impulsive move from the support region back to the previous resistant zone at $0.1360.
DeFI Coin Price Forecast: Defi Coin Is Ready to Takeoff From the Oversold RegionThe market is currently expected to rise back to the initial resistance level at $0.1360. The liquidity resting above $0.1360 is expected to magnetize the price to the zone.


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.