DeFi Coin Upside Continuation Confirmed!

Olimpiu Tuns
28 July 2021 | Updated: 28 July 2021

Defi coin is located at 1.4453 at the time of writing and it seems determined to resume its growth. Despite some spikes higher, DEFC_USDT has consolidated around the current levels, so the bias is bullish.

It has stabilized far above the 1.0000 psychological level which is very important. Personally, I believe that we’ll get fresh buying opportunities soon.

Defi Coin H1 Technical Analysis!

Defi coin has managed to jump above the immediate downtrend line signaling further growth. Now, it has decreased a little to retest the uptrend line. The last H1 bullish candle representing a false breakdown with great separation below dynamic support signals strong buyers.

As you can see on this chart, Defi Coin has escaped from the descending pitchfork’s body and now is pressuring the first warning line (wl1). Technically, making a valid breakout through the warning line could really signal more gains ahead.

Also, making a new higher high, jumping and closing above 1.5300 validates strong upwards movement towards the former highs.

Conclusion!

Defi Coin (DEFC_USDT) has confirmed its bullish outlook again by retesting the uptrend line. Taking out the warning line (wl1) could really indicate upside continuation!

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Olimpiu Tuns

Olimpiu Tuns

Olimpiu Tuns graduated with a Master in Business Administration and is a seasoned Market Analyst / Trader / Trainer with 10 years of experience in the financial markets having expertise in Forex, Commodities, Index, Cryptocurrencies, and Stocks. He worked as a Market Analyst for three major brokerage companies, as a prop trader, and as a contributor/content creator for news portals and educational platforms.