DeFI Coin Price Forecast: DeFI Coin Seeks Support at a Discount Price

DeFI Coin Price Forecast: May 12

The DeFI Coin price forecast is for the dive of Defi to the next demand zone at a discount price to resume its bullish run.

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

Key Levels:
Supply Zones: $0.5640, $0.880
Demand Zones: $0.0990, $0.2280
DEFCUSD price consistently rose for three consecutive days. There was a clean displacement to the upside on the 4th of April. The market ascended to $9.5640 after two consecutive days.

DeFI Coin Price Forecast: DeFI Coin Outlook

The bulls ascended to the supply zone at $0.5640 unhindered. The first sign of weakness from the bulls was revealed when a minor low failed to hold the price on the 7th of May.

The market has been slopping downward in a very slow manner compared to the bullish run. The time spent on the bullish rally compared to the time spent on the retracement shows the bulls are still in control of the market.

The bullish run from $0.0990 to $0.5640 lasted only three days. The sell-off was initiated at the closing hours of the day on the 6th of May. The sell-off from the supply zone at $0.5640 towards the demand zone at $0.2280 has spent twice the time for almost half the distance.

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

DEFCUSD is diving to the support zone at $0.2280 to continue the upward trend. The bulls are seeking momentum at lower levels.
The demand zone is between 61.8% and 78.6% on the Fibonacci. The MAC-D (Moving Average Convergence Divergence) has also crossed below equilibrium to show that the bulls are likely to resume in little time.

You can purchase DeFi Coin here: Buy DEFC

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