02.07.2022
Chicago 12, Melborne City, USA
Business

DeFI Makes Bullish Breakout of Supply Level

DeFI Coin Price Forecast: May 13

The DeFI Coin price forecast has switched to bullish due to the recent breakout in the market.

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

Key Levels:
Supply Zones: $ 0.5670, $ 0.5020, $ 9.3550
Demand Zones: $ 0.4090, $ 0.2850, $ 0.2350
DEFCUSD has successfully pierced through the $ 0.3500 level today after the market bounced off the $ 0.2850 support level. The footprints of the bulls have been sighted again after a few days.

DeFI Coin Price Forecast: DeFI Coin Outlook

Once again, the intraday candles on the 1-hour chart have switched positions to rest above the Moving Average within the Bollinger Band. On the one-hour chart, the intraday candles were positioned above the Moving Average of the Bollinger Bands from the 4th of May to the 6th of May.

On the 10th and 11th, the market consolidated. A ranging market formed between $ 0.5020 and $ 9.4090. The market tapped into the Bollinger Band on the upper side. Following that, the market fell to $ 0.2850.

The Parabolic SAR (Stop and Reverse) has formed points under the large bullish candle which spiked today. The MACD also signifies that the market is oversold and ready to take off.

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

DEFCUSD formed a triangle breakout on the 15-minute chart. A large bullish candle has spiked up at the tip of the triangle to accomplish a bullish breakout. The candle closed above the resistance level at $ 0.3550.
DeFI Coin Price Forecast: DeFI Coin Makes Bullish Breakout of Resistance LevelThe candles are currently forming above the Moving Average within the Bollinger Bands to signify bullishness. The market is expected to seek the $ 0.4090 key level.

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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