15.08.2022
Chicago 12, Melborne City, USA
Business

DeFI Coin Is Set to Rise From Oversold Region

DeFI Coin Price Forecast: June 22

DeFI Coin price forecast calls for the rise of DeFI’s price to clean highs at $ 0.3870.

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

DEFCUSD Significant Levels:
Zones of supply: $ 0.5680, $ 0.3870
Zones of demand: $ 0.2810, $ 0.1080
The demand level at $ 0.2810 prompted a bullish breakout. The market was oversold on the stochastic indicator. This caused the market to bounce to the resistance level at $ 0.3870.

DeFI Coin Price Forecast: Market Outlook

The resistance level at $ 0.3870 facilitated the retracement of DeFi on the overall bullish trend. The market moved sideways in a range till the upper edge of the descending channel was reached.

The market has reached the lower border of the descending channel. The bulls launched from the test of the lower edge of the descending channel on the 18th of May. The bulls are likely to rally once again at the channel’s lower border.

The market is almost at the takeoff point where the bulls stormed the market on the 4th of May. The bullish rally was seen to be very energetic. The demand level is expected to promote buying pressure for the DeFI Coin. The Parabolic SAR (Stop and Reverse) has signaled bullishness in the market. Multiple points have been formed beneath the 30-minute candles since the test of the descending trend line.

DEFC Medium-Term: Trend Bullish (15-minute chart)

The demand level at $ 0.1080 has formed a bullish confluence with the descending trend line. The bulls are expected to utilize the bullish confluence zone to go long.
DeFI Coin Price Forecast: DeFI Coin Is Set to Take Off From the Oversold RegionThe market is expected to rise to the upper side of the descending channel. The DeFI coin price will likely rally towards the critical level at $ 0.2810.

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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