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

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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
DEFCUSD 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.
The 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

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