While the crypto market seems like a no-go zone for the moment as most digital assets lose value, DeFi Coin (DEFC) has remained relatively stable. Some analysts prescribe that DEFC and its recently launched DeFi Swap decentralized exchange (DEX) are in an advantaged position to not only wither the bearish winter but deliver outsized returns on your portfolio.
The LUNA/UST crash made the headlines last week and was responsible for the huge crash seen across the market. However, while many will panic and offload their crypto assets, materializing paper losses, a smarter approach to the crash would be to position yourself for the eventual volcanic rebound.
That said, purchasing DeFi Coin at this time might be one of your best bets in the long run. Being a relatively new token on the block, DEFC has the advantage of learning from the failures and successes of its predecessors and applying the best approaches to itself.
Apart from that, DeFi and Web3 are fast becoming the focal point in finance amid the emerging prospect of stagflation and global recession.
However, with the worsening market outlook and sentiment, the market could remain suppressed until 2024, when the next Bitcoin halving occurs. In the run-up to this event, digital currencies with real-world utility and an emerging market base are expected to come out on top before this event. This makes DeFi Coin a top pick for any well-seasoned crypto investor.
Key DeFi Coin Levels to Watch — May 15
After falling from the $0.500 level following the Terra-induced market crash, DEFC has eased off the bearish sentiment after breaking the $0.300 support. That said, the recent fall was primarily supported by the 4-hour 100 EMA, which has buoyed the price since the crash.
At press time, DEFC trades at the $0.350 axis as the broader market recovers some ground. We should see a bullish continuation to $0.400 over the coming days and a return to the $0.550 high before the end of the month.
Meanwhile, my resistance levels are at $0.350, $0.400, and $0.450, and my support levels are at $0.300, $0.250, and $0.200.
Total Market Capitalization: $1.29 trillion
DeFi Coin Market Capitalization: $34.6 million
You can purchase Lucky Block here. Buy LBlock
- Broker
- Min Deposit
- Score
- Visit Broker
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Award-winning Cryptocurrency trading platform
- 14 Cryptoassets available to invest in
- FCA & Cysec regulated
Highly volatile unregulated investment products. No EU investor protection.
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
