Defi Coin Price Forecast: October 5
DEFCUSD price may likely resume its upward rally soon if the buyers should increase their price action further in the market. A bullish reversal from the support trend line at $0.07210 level will ignite a sharp breakout above $0.08764 resistance and the new trend pattern may hit the $0.2000 high mark.
DEFC Price Statistics Data:
DEFC price now: $0.07210
DEFC market cap: $7.321M
DEFC circulating supply: N/A
DEFC total supply: $100.00M
DEFC Coinmarketcap ranking: #6447
Key Levels:
Resistance Levels: $0.08700, $0.08600, $0.08500
Support Levels: $0..07200, $0.07100, $0.07000
DEFCUSD Long-term Trend: Bearish (1-hour chart)
The DEFCUSD pair is facing the negative side at the moment in its long term time frame. This is due to the high inflow from the bears. Further, the bulls are prepared to move the market upward as the market now trades in the oversold region.
Today, the coin is trading below the two EMAs at the $0.07210 support level on the hourly chart. However, interested traders can join the market now at the cheaper rate to enjoy more gains in the later days.
In addition to that, the price indicator shows that the market price of Defi Coin below the 20% range, which means that the market is oversold and the selling pressure will end soon.
Therefore, the upcoming rally may hit the $0.2000 resistance mark in the long-term outlook as we wait and watch the market turns positive.
DEFCUSD Medium-term Trend: Bearish (15-Minute Chart)
DEFC Price to Reverse Soon
The currency pair is also facing the negative side in the lower time frame. The price bar can be seen below the moving averages as an outcome of high impact from the sell traders.
After series of sideway moves, the price of DEFCUSD found support at $0.07210 value below the two EMAs which are glued together. However, the coin will turn up to trigger a new bull circle soon as the sellers are tired already.
Next, the price of Defi Coin is going up soon as indicated by the daily stochastic which is now trading around 10% range in the oversold region. This means that the selling pressure will be over and the buy traders may likely move the price up to a high at $0.2000 trend mark in its medium-term outlook.
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