DeFi Coin Soars by Over 500% in Two Days as DEFC Prepares for Bull Cycle

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DeFi Coin (DEFC) surged by over 175% last Wednesday alone, as the price rallied to $0.23 on Bitmart. On that day, the DeFi token jumped from a daily low of $0.08 to tap a high of $0.25, a jaw-dropping 300% single-day move.

That said, DEFC did not stop there. Instead, the cryptocurrency surged by another 124% between May 5 and May 6. However, it has since retraced to the $0.470 area, where it currently trades.

That said, analysts opine that bullish continuation might be brewing in the background for the DeFi token. Impressively, DeFi Coin put up this exceptional bullish performance when most of the market suffered monumental losses, as Bitcoin slumped to the $33,000 low, a record yearly low.

In other news, DeFi Coin recently achieved another milestone in its roadmap after launching its Defiswap.io decentralized exchange (DEX), app, and farming pool.

DEFC aims to become the go-to alternative to decentralized exchange giants, like Pancakeswap, Uniswap, and Sushiswap, and provides liquidity for crypto token swaps in a decentralized setting.

A recent report suggested that DEFC could attract a listing on Coinmarketcap with its recent meteoric rally, which should amplify the token to more audiences and attract more investors and developers.

Key DeFi Coin Levels to Watch — May 9

As mentioned earlier, DEFC has recorded a massive boom over the past few days after recording an activity and volume spike last Wednesday.

DEFC 4-Hour Chart on TradingView.

The decentralized token jumped by a volcanic 514% between Wednesday and Friday before correcting mildly to the $0.470 zone. The cryptocurrency still trades up by 411% from its lowest point in May, recorded on May 4.

With the bearish pressure on the broader market persisting on Monday, DeFi Coin could record a bullish slow down and enter a sideways pattern. However, analysts believe that the cryptocurrency has now touched the floor from its recent crash, adding that it could start a bull cycle soon.

Meanwhile, my resistance levels are at $0.500, $0.550, and $0.600, and my support levels are at $0.450, $0.400, and $0.350.

Total Market Capitalization: $1.51 trillion

DeFi Coin Market Capitalization: $49.3 million

 

You can purchase DeFi Coin here. Buy DEFC

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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.