DeFi Coin Price Forecast: DeFi Price Is Getting Set for Another Bullish Phase

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DeFI Coin Price Forecast: October 14

The DeFi Coin price forecast is that the price will retrace after retracing the price level at $0.06740. That is taking a cue from the market’s reactions, after the most bullish runs since August.

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

Significant Levels:

Supply zone: $0.07660, $0.07110
Demand zone: $0.07250, $0.06740
Defi Coin Price Forecast:Defi Price Is Getting Set for Another Bullish PhaseTowards the tail end of August, the DEFCUSD market retested the support level at $0.07250, after a series of bullish climbs off the chart. This, however, led to another bullish phase in the DEFC market. 

DeFI Coin Price Forecast: Market Outlook

Early in September, a similar pattern formed on the chart. After the price had climbed from $0.07000 and gone above $0.07800, the price had to retest $0.07110 to gain the momentum that pushed the price to its highest range ($0.09500) in recent times. 

A similar pattern appears to have been formed after the market had reached $0.07660, the market has made a retest to the current price to garner enough buys, to drive the market up again. The True Strength Index indicates that the market is already oversold at the current level, and a change of direction can readily be affected by the bulls. 

The Relative Strength Index (RSI) also indicates that the market has sold excessively. This provides a great avenue for buying traders to enforce a retracement from the current price. 

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

In the short term, however, MACD suggests that the price is now ranging on this support level that has refused to cave in. The market is mostly moving sideways. Although the MA, period 9, and 21 seem to be finding their way under the candlesticks, suggesting an upward retracement. 
Defi Coin Price Forecast:Defi Price Is Getting Set for Another Bullish PhaseThe TSI indicator also attests to the bulls’ effort at winning the buyer’s and seller’s contention. The TSI lines have moved past the signal line, suggesting that the price will soon rise back up.

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.