DeFI Coin Price Forecast – May 31
The DeFI Coin price forecast is ascending. The market has found support at the demand levels of $0.2850 and $0.3290. This has caused the price of DEFC to rise.
DEFCUSD Long-Term Trend: Bullish (1-hour chart)
DEFCUSD Key Levels:
Demand level: $0.2850, $0.3290
Supply Level: $0.3920, $0.3560
The DEFCUSD coin experienced a bullish breakout on the 23rd of May. The support level at $0.2850 fostered the market to ascend. There was a retracement to $0.3290, which was utilized to bring in more buyers to the market.
DeFI Coin Price Forecast: Market Outlook
The support levels have been linked to form an ascending trend line on the one-hour time frame. The market faced resistance at $0.3920. The market has formed lower highs and higher lows. This has been narrowed down to create a symmetrical triangle on the chart.
The MACD (Moving Average Convergence and Divergence) indicator is currently at a midpoint. The indicator shows the narrowing of both the bullish and bearish trend lines.
The Parabolic SAR (Stop and Reverse) indicator is signalling bullishness as multiple points have been formed under the recent candles. The Parabolic SAR appeared beneath the candles as the market reached the demand zone to reflect the activity of the bulls.
DEFC Medium-Term: Trend Bullish (15-minute chart)
The 5-minute chart shows a bullish trend line drawn from the support level at $0.3560. The trend line is expected to lead the market to break the resistance at $0.3560.The MACD is oversold.
At the same time, the Parabolic SAR has shown the lower timeframe retracement to the bullish trend line for support. This is likely going to prompt upward moves. The MACD has crossed below equilibrium, indicating its readiness for bullish moves.
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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