DeFi Coin Price Forecast: The Defcusd Price Retests and Is Already Rising

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Defi Coin Price Forecast: October 2

The DeFi Coin price forecast indicates that the DEFC value will return to a retest of the price level at $0.06950. This comes after many weeks in which the price continued to rise. The market retraced back to this level, likely due to the waning of the bullish pressure after the market peaked at $0.09360. This caused a leveling fight between buyers and sellers, before the market eventually retraced downward.

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

Significant Levels: 
Supply zone: $0.09360, $0.07650
Demand zone: $0.08250, $0.06950
DeFi Coin Price Forecast: The Defcusd Price Retests and Is Already RisingThis bearish move is supposed to be in a bid to create a discount for buyers, as DEFC was already reaching an oversold point. Buying at that $0.09000 level was gradually starting to be unattractive, hence the recent market’s smart movement.

DeFI Coin Price Forecast: Market Outlook 

The Average Directional Index indicator is showing that the downtrend has lost its strength. The bearish pressure that saw the market push this downward could not be sustained. On the 1-hour chart, it can be seen that this move happened within a very short period of time and is somewhat unsustainable.

The Stochastic indicator shows an oversold market. The market, in one swoop, sold so much that it became even unreasonable to do so. The indicator is currently below the 5.00 mark, depicting the market’s extremely oversold market situation.

The Relative Strength Index also indicates that the price has reached an oversold point. This indicator is also around the 5.00 mark. This indication shows that the sell motion cannot continue, as the market has become unbearable for even sell traders.

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

The MACD (Moving Average Convergence and Divergence) gives the same indication as the other indicators. The 15-minute chart has the indicator at a deeply regressed position.
DeFi Coin Price Forecast: The Defcusd Price Retests and Is Already RisingThe chart is already showing some bullish candles forming gradually. The DEFCUSD market is expected to make a bullish retrace soon, as it has done in recent times.

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.