Defi Coin Price Forecast: August 24
DEFCUSD is going to retrace from the current trend soon. There is a need for the buy traders to input more strength and break up the $0.09000 level, if this is achieved, the price action might swing above the $0.1000 resistance level. $0.2000 in the upper supply level might be the target.
DEFC Price Statistics Data:
DEFC price now: $0.06861
DEFC market cap: $6.811M
DEFC circulating supply: N/A
DEFC total supply: $100.00M
DEFC Coinmarketcap ranking: #5617
Key Levels:
Resistance Levels: $0.08500, $0.09000, $0.09500
Support Levels: $0.06700, 0.06600, $0.06500
DEFCUSD Long-term Trend: Bullish (1-hour chart)
DEFCUSD is responding to the shift in the market structure and is currently trading above the EMA-9 but below the EMA-50. This means that it’s in a bullish market zone.
The bulls actually made it to a $0.06923 high level after which the bears came in and dropped the price of the coin down to a $0.06831 low level as the 1-hourly session opens today.
The price could test the $0.1000 supply level amid sustained selling pressure if the buy traders accelerate their momentum pressure in the market. However, a daily close above $0.1000 could lead to a recovery rally in DeFi Coin.
The potential upside is likely as the price is oversold already; it is now expected of the buyers to return the price to the resistance, a key psychological level above the $0.1000 might be reached as we watch the crypto market turn bullish sooner in its long-term perspective.
DEFCUSD Medium-term Trend: Bullish (15-Minutes Chart)
DEFC Rallying Up to $0.2000
DEFCUSD is in a bullish race in the medium-term outlook. The buyers also made an upward move to the $0.06962 resistance level before the end of yesterday’s session and sustained it. This gave the buyers more strength to influence the price tendency and continue with the trend.
The cryptocurrency made it up to a $0.06911 high level as the 15-minute chart begins today. The price action can be seen slightly above the moving averages, if the price breaks further above the level of $0.1000, then we can expect a good upside momentum up to $0.2000.
In a like manner, it seems that the price of DeFi Coin will continue to rise as indicated by the daily stochastic pointing upward in the oversold region. This will enable the coin to reach a significant level of $0.2000 soon as the market turns bullish in its lower time frame.
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