DeFI Coin Price Forecast- DeFI Coin Makes Third Touch On Supporting Trend Line

DeFI Coin Price Forecast: July 18 

DeFI Coin price forecast seeks a bullish reversal at the $0.800 support level. 

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

DEFCUSD Significant Levels:
Zones of supply: $0.1620, $0.1460, $0.1380
Zones of demand: $0.1150, $0.1050, $0.0800

DeFI coin market price rose from the demand level of $0.1150 in June. The RSI (relative strength index) indicator was oversold before the market ascended. The market reached the resistance level at $0.1620.  

DeFI Coin Price Forecast: Market Outlook

The market formed a head and shoulders shape, which led to a selloff. A new low was formed, which was used to anchor a bearish trend line. 

The low that formed on the 2nd of July was in an oversold region. The MAC-D (Moving Average Convergence and Divergence) indicator is crossed to signify a buy signal. The market pushed up to fill up areas of market inefficiencies.  A new high was formed at $0.1380, which was used to anchor a trend line for the parallel channel.

On the 16th of July, the market made the third touch on the upper edge of the parallel channel. This caused the market to reach for the supporting trend line at the $0.0800 major level. The market is currently oversold on the  MACD and the RSI indicator. 

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

The 15-minute chart shows the selloff to the support level deposited a wide range of market inefficiency below the $0.1150 major level. After the impulsive move to the $0.0800 support level, multiple small bullish candles have formed. 
The market is expected to rise efficiently to fill the gap above the demand level of $0.0800. The market is expected to rise to $0.1050.

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