DeFi Coin Price Forecast: DeFi Price Breaks Back Into the Upper Supply – Demand Zone

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DeFi Coin Price Forecast: October 7

The DeFi Coin price forecast indicates that the market has resumed a bullish swing after the DEFCUSD price hit $0.07650. The market began a step-wise bullish retrace pattern as it started to return from the market-discounting retest.

DEFCUSD Long-Term Trend: Bullish (1-Hour Chart)

Significant Levels:
Supply zone: $0.09340, $0.07390
Zones of demand: $0.7650, $0.06970
DeFi Coin Price Forecast: DeFi Price Breaks Back Into the Upper Supply - Demand Zone

After the price tapped this level, however, DEFC seems to be heading for a retest of the nearest resistance level. This is perceived to be caused by the strong consolidation the market is faced with, as traders, buyers, and sellers are all alike. 

DeFI Coin Price Forecast: Market Outlook

The Zigzag indicator shows that the market is already heading back up, and has made some significant bullish motions. The indicator runs from the bottom of the lower demand level and has already hit the support level above it. This shows a significant rise up, even in a short period.

The Average Directional Index, however, considering the most recent market direction, suggests that the bearish pressure on the market is very weak. Although the market is only making a move to retest the supply level it recently passed, the indicator shows that the market can’t continue very long in that direction.

The Moving Average indicator (MA), period 9, indicates that the DEFCUSD price is sharply on the rise. The market seems to be swinging in a bullish direction. The MA’s period 21 also confirms the same, as the indicator currently lies even below the recent bear candles. 

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

On a lower timeframe though, the SuperTrend indicator has recently switched to green, more likely to suggest that the market price might even fail to retest the supply zone it was headed for.
DeFi Coin Price Forecast: DeFi Price Breaks Back Into the Upper Supply - Demand Zone
This might just start another bullish attack in the coming days. Just as the ADX shows that the bearish motion has no more strength to push it.

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.