DeFi Coin Price Prediction: DEFC/USD Ranges as More Buyers Are Expected
May 11, 2022
#DEFC#DEFCUSD#DeFi Coin#Technical Analysis
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The DeFi Coin price prediction will recover to the upside as the coin gets ready for a cross above the 9-day and 21-day moving averages.
DEFC/USD Medium-term Trend: Ranging (2H Chart)
Resistance levels: $0.60, $0.65, $0.70
Support levels: $0.25, $0.20, $0.15
According to the 2-hour chart, DEFC/USD is ranging as the market price is ready to cross above the 9-day and the 21-day moving averages. Meanwhile, the market will become cheaper so that new and existing buyers could enter the market. However, should the bulls fail to push the price upward, the DeFi Coin price may continue sideways before heading to the upside.
DeFi Coin Price Prediction: DEFC/USD Would Move Higher
The DeFi Coin price would break towards the upper boundary of the channel if the bulls defend the $0.42 support level. Consequently, any further bullish movement above the moving averages will push the price to the potential resistance levels of $0.60, $0.65, and $0.70.
Moreover, the upward movement may be delayed if the bears cross below the lower boundary of the channel to touch the low of $0.25, $0.20, and $0.15 support levels. More so, the technical indicator Relative Strength Index (14) moves above the 40-level to prepare for the upward movement.
DEFC/USD Medium-term Trend: Ranging (30M Chart)
According to the 30-minute chart, the DeFi Coin price would head towards the north to touch the major resistance level at $0.45. However, if the buyers push the price above this level, higher resistance could be located at $0.46 and above.
Moreover, the technical indicator Relative Strength Index (14) moves around the 40-level, indicating that bullish signals are coming to play. Moreover, should the bulls fail to move the current market value above, the bears may step back into the market, and the nearest support level could be found at $0.40 and below.