Defi Coin Price Forecast: September 1
DEFCUSD chart looking nice. After it breaks down from long-term support, the coin is now holding at the resistance at a $0.07790 high level. A successful breakout will possibly retest the $0.1000 supply level; this can be achieved with additional force from the bulls.
DEFC Price Statistics Data:
DEFC price now: $0.07569
DEFC market cap: $7.24M
DEFC circulating supply: N/A
DEFC total supply: $100.00M
DEFC Coinmarketcap ranking: #6042
Key Levels:
Resistance Levels: $0.07800, $0.07900, $0.08000
Support Levels: $0.07254, $0.07154, $0.07054
DEFCUSD Long-term Trend: Bullish (1-hour chart)
In the previous action, the DEFCUSD price has been trading in the supply zone. The price bars are now above the moving averages. The sustained bullish pressure pushed the cryptocurrency further up at the $0.07538 resistance level as the session opened yesterday. The bears return gradually with an initial drop to $0.07254 before the end of yesterday’s session.
Today, the coin price at $0.07790 is 3% up and showcases a reattempt to challenge the overhead resistance as the 1-hourly chart opens today. The bears returns briefly and dropped the price down to a $0.07569 low level above the EMA-50.
Hence, there is a possibility of price reversal at a $0.07569 low level as the market approaches the overbought region, this will compel the buyers to resume the upside move and move the price of DeFi Coin up to a key level above the $0.1000 resistance level in the days ahead in its higher time frame.
DEFCUSD Medium-term Trend: Bearish (15-Minute Chart)
DEFC to Reverse at $0.07569 Level
In the lower time frame, the market is in a downward move. The price has broken the two EMAs. A break above the moving averages will propel the pair to rise.
Today, the DeFi Coin price reached a high of $0.07790 value after which the sell traders intervened and smashed the price down to a $0.07569 low level shortly after the 15-minutes session opens. With this trend, the buyers can buy the coin at a cheaper price and move the market value of the crypto further up.
Next, the pair is likely to resume an uptrend soon as the market has reached the oversold region. We can now expect the buy traders to push the price up to a key level above the current resistance level as the market turns bullish soon in its medium-term outlook.
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