DeFI Coin Price Forecast: DeFI Coin Makes Pullback Into Discount in Bullish Market

DeFI Coin Price Forecast – May 9

The DeFI Coin price forecast has not switched from bullish with the overall market outlook. Since the introduction of volatility into the market on May 4th, the bulls have dominated price movement.

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

Key Levels:
Supply Zones: $0.480, $0.400
Demand Zones: $0.230, $0.150
DEFCUSD slumber was brought to an end on May the 4th after a few months of inactivity and sideways movement. The bulls have gathered sufficient energy during the static period and are dominant.

DeFI Coin Price Forecast: DeFI Coin Outlook

The initial surge on the 4th of May lasted for five consecutive hours before any bearish candles appeared. The energetic rally was so prominent that the market was not even able to retrace into a discount before a new bullish surge spiked again.

The second phase of the bullish surge lasted for three consecutive hours before the first bearish candle appeared. The market managed to reach the equilibrium of the bullish surge, which cleared the previous high.

A new high has been created after the violation of $0.480 The break of the last internal low of the previous bullish surge occurred on the 7th of this month.

DEFCUSD Medium-Term Trend: Bullish (15-Minute Chart)

DEFCUSD is currently making a pullback after the bullish surge on the 6th of May. The pullback reveals that the bears are in submission as the market is slowly dipping into the most recent range.
The market has retraced to reach an equilibrium of the impulse. The market is currently ranging around 50% on the Fibonacci ratio. The stochastic indicator is currently oversold. This shows that the pullback is very likely to be over soon. The previous high, which is at the top of the fib, is the next aim of the bulls.

You can purchase DeFi Coin here: Buy DEFC

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