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DeFi Coin Price Prediction: DEFC/USD Rallying Again, Takes Support From $0.12

August 5, 2022

#DEFC#DEFCUSD#DeFi Coin#Technical Analysis

DeFi Coin Price Prediction – August 5

The DeFi Coin price prediction would continue to form higher as the coin prepares to follow the bullish movement.

DEFC/USD Medium-term Trend: Bullish (4H Chart)

Key Levels:

Resistance levels: $0.14, $0.15, $0.16

Support levels: $0.11, $0.10, $0.09

DeFi Coin Price Prediction
DEFCUSD – 4-Hour Chart

DEFC/USD is sliding below the 9-day moving average, but it’s yet to get to the 21-day moving average. The market price is hovering at $0.122, and it could retreat more to allow new investors to come into the market.

DeFi Coin Price Prediction: DEFC/USD Will Retrace Back to the Top

According to the 4-hour chart, the DeFi Coin price will make a retracement back above the 9-day and 21-day moving averages as soon as the bulls defend the $0.12 level. However, any further bullish movement could push the coin above the upper boundary of the channel which will hit the potential resistance levels of $0.14, $0.15, and $0.16.

In the meantime, this technical analysis could be delayed if the bears break towards the lower boundary of the channel and could fall to the support levels of $0.11, $0.10, and $0.09. Similarly, the technical indicator Relative Strength Index (14) remains below the 60-level to prepare the coin for the bullish movement in the next positive direction.

DEFC/USD Medium-term Trend: Ranging (2H Chart)

Looking at the 2-hour chart, the DeFi Coin price is below the 9-day and 21-day moving averages. This is for the new buyers to come into the market and the existing buyers to re-invest. However, the long-term moving averages will begin the bullish movement as the market prepares for a new trend.

DEFCUSD – 2-Hour Chart

Moreover, if the buyers push the price above the upper boundary of the channel, higher resistance could be located at $0.135 and above while the technical indicator Relative Strength Index (14) stays below the 50-level. Moreover, should the bulls fail to move the current market value above, the bears could bring the coin to the support level of $0.115 and below.

You can purchase DeFi Coin here. Buy DEFC

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