DeFI Coin Price Forecast: DeFi Coin is Set for Another Bullish Run

DeFI Coin Price Forecast – August 23

DeFI Coin price forecast indicates readiness for a bullish takeover. DeFI Coin is eager to reach the price of $0.1360.

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

Significant Levels:
Supply zone: $0.1360, $0.0790
Demand zone: $0. 1250, $0.0680
The market is presently experiencing a consolidation phase. However, DeFI Coin is expected to reverse and run to $0.1360. The current tussle between the bulls and the bears is gradually coming to an end, as a bullish takeover is just around the corner.

DeFI Coin Price Forecast: Market Outlook

The bears’ strength in the fight can’t hold out much longer, which means the bulls are ready to soar. The Average Directional Index (ADX), since the 21st of August, started a downward curve, which shows the weakness of the market bears. This signals that there is room for a bullish market shift.

When studied closely, the RSI (Relative Strength Index) indicates a bullish divergence. This, again, shows the rising momentum being generated by the buying forces.

Current indications show that the market is soon to experience a bullish reversal back to the initial consolidation zone between $0.1250 and $0.1360, which it held for a long time between August 11th and 19th.

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

A closer look from a lower time frame shows the market moved away from the oversold region at $0.0675. The price has been on a relatively steady rise since around 12:00 pm on August 22nd. The market is currently closing in on reaching $0.0700, which is only a step as it eventually retraces back to the $0.1360 price.
On the 15-minute chart, there is a steeper decline in the strength of the bears, as indicated by the ADX (Average Directional Index). This is signalling an end to the current market trend. Currently, the market is still expected to shoot up to the initial height of $0.1360.

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