DeFI Coin Price Forecast: DeFI Coin Uses a Bullish Trend Line for Support

Updated:

DeFI Coin Price Forecast: May 16

The DeFI Coin price forecast is for the price to keep ascending with the aid of the bullish trend line.

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

Key Levels:
Supply Zones: $0.3770, $0.3550
Demand Zones: $0.3169, $0.302
DeFI Coin Price Forecast: DeFI coin uses a bullish trend line for supportDEFCUSD is about to make the third touch on the supporting trend line on the one-hour chart.

DeFI Coin Price Forecast: DeFI Coin Outlook

Defi coin reversed at the $0.3020 demand level. A shadow formed beneath the last bearish candle that tapped the support level on the one-hour chart. This was a sign of rejection at the support level. The effect was quickly seen with multiple bullish candles that bounced off the zone.

The market retracement did not reach the support zone again. A bullish spike was seen on the 13th of May. The spike was further confirmation that the bulls were in control of the market. The single bullish spike engulfed all the retracement candles on the 12th of May. The market was already oversold before the formation of the bullish spike on the hourly chart.

The market retested the most recent demand zone at $0.3160. The old low and the most recent high were connected by an ascending trend line.


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

DEFCUSD Moving Averages period nine crossed the Moving Average period twenty-one to the downside at $0.3550. This was a sign of a temporary reversal on the fifteen-minute chart.
DeFI Coin Price Forecast: DeFI coin uses a bullish trend line for supportThe internal low was swept as the market price dropped off the resistance level at $0.3550. The market price is currently falling towards the support trend line to continue the ascending trend. The trend line is expected to support the bulls to pass the resistance level and $0.3550.

You can purchase DeFi Coin here: Buy DEFC

Note: Learn2.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.

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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.