DeFI Coin Price Forecast: DeFI Coin Is Set to Take Off From an Oversold Status

Updated:

DeFI Coin Price Forecast: August 19

DeFI Coin price forecast calls for the imminent rise of DeFI Coin from an oversold region to higher price levels.

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

DEFCUSD Significant Levels:
Zones of supply: $0.147500, $0.138900, $0.122000
Zones of demand: $0.113300, $0.106200, $0.080590
DeFI Coin Price Forecast: DeFI Coin Is Set to Take Off From an Oversold StatusDEFCUSD demand level at $0.080590 is very likely to prompt a bullish breakout. The market is currently oversold on the Relative Strength Index (RSI) indicator. The coin is anticipated to spring up back to test the resistance level at $0.147500.

DeFI Coin Price Forecast: Market Outlook

The $0.147500 resistance level is what facilitated the retracement of DeFi Coin from its previous bullish trend. As a result, the market started moving in a lateral direction until it was knocked down further at the $0.138900 resistance level.

The market started sliding downward along a descending line, and after a while, the coin fell through the line and the $0.122000 key level. DEFCUSD is set to launch upward after testing the $0.080590 support level. The bulls are likely to rally towards the initial resistance at $0.147500.

The price is almost at the takeoff point where the bulls are set to storm the market. The bullish rally is very likely to be very energetic. The demand level is expected to push buying pressure for the DeFI Coin. The RSI has signaled imminent bullishness in the market by dropping into the oversold region.

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

The demand level at $0.080590 is seen by the buyers as a bullish convergence zone. The bulls are expected to utilize the bullish confluence zone to go long. The price will, however, have to first trade above the MA period 50 (Moving Average), which is hanging above the candles on both the 1-hour and the 15-minute chart.
DeFI Coin Price Forecast: DeFI Coin Is Set to Take Off From an Oversold StatusThe market is expected to make a sharp rise to the height from which it has dropped from the current demand level. Therefore, it is advisable for traders to hold on to the coin as they prepare for an imminent upward ride.

You can purchase DeFi Coin here: Buy DEFC

NoteLearn2.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.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

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.