DeFI Coin Price Forecast: DEFC Respects Key Supply and Demand Zones 

Updated:

DeFI Coin Price Forecast – May 17

The DeFI Coin price forecast is for bullishness on the intraday chart. The market’s reactions at support levels have prompted continuous bullish moves.
 


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

Key Levels:
Supply Zones: $0.3910, $0.3750, $0.3490
Demand Zones: $0.3160, $0.3310, 0.3620
DeFI Coin Price Forecast: DeFI Respects Key Supply and Demand ZonesDEFCUSD has continuously gyrated within the significant levels between $0.3910 and $0.3160. The price is very sensitive in short-term demand and supply zones.
 


DeFI Coin Price Forecast: DeFI Coin Outlook

Defi coin paused briskly at $0.3490 while diving on the 12th of May. The market reacted at $0.3490 again the next day. There was resistance to the bullish move at a significant level. The bulls failed in all attempts to go above the level on May 13th. The bulls eventually scaled through after using a lower support zone at $0.3160 compared to the support zone at $0.3310 used the previous day. The support zone provided sufficient energy for the bulls to break through the resistance at $0.349.
 
The market balanced the buy-side delivery with the sell-side delivery of price between the zones of $0.3620 and $0.3910. There was a structural shift in the market on the 14th of May. The bears stormed the market as the price bounced from $0.3620 to $0.3750.
 
The market eventually attempted to bridge the demand zone at $0.3160 once again. The bulls were successful in defending the support level and helped more buyers gain access to the market.
 


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

DEFCUSD is currently ascending through an expanding channel. The Parabolic SAR (stop and reverse) and the Moving Average period nine are supporting an upward movement of price on the 15-minute chart.
DeFI Coin Price Forecast: DeFI Respects Key Supply and Demand ZonesThere is a confluence of the ascending trend line and the demand zone at $0.3310. The market is expected to draw into the confluence to foster a bullish run towards $0.3490.

You can purchase DeFi Coin here: Buy DEFC

NoteLearn2.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.