Defi Coin Price Forecast: October 14
DEFCUSD is setting up for a new upward rally. The price action wobbling at the $0.07156 low level is likely to hold as the market is oversold. Hence, a potential bullish crossover above the $0.07350 supply mark should encourage the buyers to push the coin price towards a $0.400 resistance trend line.
DEFC Price Statistics Data:
DEFC price now: $0.07156
DEFC market cap: $7.094M
DEFC circulating supply: N/A
DEFC total supply: $100.00M
DEFC Coinmarketcap ranking: #6813
Key Levels:
Resistance Levels: $0.07350, $0.07450, $0.07550
Support Levels: $0.07156, $0.07056, $0.06956
DEFCUSD Long-term Trend: Bearish (1-hour chart)
DeFi Coin is losing bullish momentum as it moves below the $0.07203 support level. The short traders are now involved in the affairs of the market at the moment.
The price opened higher and managed to trade in green over the past few hours at $0.07200 which further rises to a $0.07207 supply mark above the EMA-9. The momentum was lost while the inflows from the short traders dropped the coin price down to a low of $0.07159 value shortly after the opening of today’s 1-hourly session.
However, buyers are likely to attempt the bullish breakout for a quick recovery soon. This will prolong the upward rally and fuel the release of more buy investors into the market.
Further, a potential bullish reversal from the current support is pertinent as the market price of DEFCUSD is trading at the oversold region, this should trigger a significant correction. Thus, the upcoming bullish pattern may increase the crypto value to touch a $0.400 high trend line in the coming days as we watch the market turns bullish here.
DEFCUSD Medium-term Trend: Bearish (15-Minute Chart)
DEFC Price Retracement at $0.07156 Low-Level Soon
The coin still remains in a bearish trend zone in its lower time frame. This is due to the interference from the sell traders which will soon fade off.
The market value of DEFCUSD which rises significantly from the $0.07170 level to the $0.07207 supply value above the two EMAs as the 15-minute chart opens today indicates that the buy traders are capable of influencing the market decision and are more present in the market.
The current drop in the price to the $0.07156 support level is due to the inflow from the sellers, however, traders are advised to invest at the moment at a lower price for more future gains.
Thus, the market action is now in the oversold region. So, there is likely going to be an immediate reversal from the mentioned support value to the upside soon.
We can certainly expect more actions from the buyers as they move the price of DEFCUSD up to a $0.400 high level soon in its lower time frame.
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