DeFi Coin Price Prediction: DEFC/USD Falls to $0.11; It’s Time to Buy
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The DeFi Coin price prediction drops to touch the daily low of $0.11 as the price dips for new buyers to surface.
DEFC/USD Medium-term Trend: Bearish (4-Hour Chart)
Key Levels:
Resistance levels: $0.20, $0.22, $0.24
Support levels: $0.08, $0.06, $0.04
DEFC/USD is now trading at $0.11 below the 9-day and 21-day moving averages. However, the sellers are pushing the coin towards the south as this allows the new buyers to step into the market while the existing buyers are expected to buy the dips.
DeFi Coin Price Prediction: DEFC Price Retreats to Move Higher
Looking at the 4-hour chart, the DeFi Coin price is now cheap for more buyers to enter the market. However, the coin will drop more as the technical indicator Relative Strength Index (14) remains within the oversold region, the coin will experience new buyers coming into the market, but any further supports could be located at $0.08, $0.06, and $0.04.
However, should the buyers hold the current support of $0.11 and push the coin higher; the bulls can expect immediate resistance to be located at $0.18. Any further bullish movement toward the upper boundary of the channel will hit the resistance level of $0.20, $0.22, and $0.24.
DEFC/USD Medium-term Trend: Bearish (2-Hour Chart)
On the 2-hour chart, the DeFi Coin price will head towards the lower boundary of the channel, but this could allow new buyers to enter the market. Nevertheless, the existing buyers are also expected to buy the dip as the market gathers momentum to begin another bullish movement.
From above, if the buyers push the price above the upper boundary of the channel, higher resistance lies at $0.20 and above. Moreover, should the coin retreat and slide towards the lower boundary of the channel, another support may come at $0.08 and below while the Relative Strength Index (14) stays within the oversold region.
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