DeFi Coin Price Prediction: DEFC/USD Bulls Will Surface after Moving Sideways
May 12, 2022
#DEFC#DEFCUSD#DeFi Coin#Technical Analysis
DeFi Coin Price Prediction – May 12
The DeFi Coin price prediction is likely to face moderate volatility and gain long-term before heading to the upside.
DEFC/USD Long-term Trend: Ranging (2H Chart)
Resistance levels: $0.0045, $0.0050, $0.0055
Support levels: $0.0025, $0.0020, $0.0015
DEFC/USD is currently trading around the $0.34 level below the 9-day and 21-day moving averages. In the range of the descending channel, the closest support could be located at $0.30 below the lower boundary of the channel. Meanwhile, if the market increases, additional resistance can be found above the 9-day and 21-day moving averages.
DeFi Coin Price Prediction: DEFC Price May Continue to Move Sideways
The DEFC price may likely create additional bullish trends once the sideways movement fades away and this is noticeable for the technical indicator Relative Strength Index (14) as the signal line recovers from the oversold region.
At the time of writing, the DeFi Coin will cross above the moving averages but any bearish movement below the lower boundary of the channel may bring the coin to another serious downtrend. However, the support levels for DEFC/USD can be located at $0.25, $0.20, and $1.50, while the resistance levels would be found at $0.45, $0.50, and $0.55 respectively.
DEFC/USD Medium-term Trend: Ranging (30M Chart)
The DeFi Coin continues to hover above the 9-day and 21-day moving averages. However, the nearest resistance is set above the upper boundary of the channel because the market price is still changing at around $0.34.
However, if the DEFC price crosses below the moving averages, DEFC/USD may create a new low at the support level of $0.30 and below. Meanwhile, any bullish movement above the channel will allow the market to form a new upward trend and this could hit the potential resistance level at $0.40 and above.