DeFi Coin Price Prediction: DEFC/USD Ranging, Takes Support From $0.06
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The DeFi Coin price prediction will continue to form higher as the coin prepares to follow the bullish movement.
DEFC/USD Medium-term Trend: Bullish (1D Chart)
Key Levels:
Resistance levels: $0.14, $0.15, $0.16
Support levels: $0.03, $0.02, $0.01
DEFC/USD is still hovering below the 9-day and 21-day moving averages, but it’s yet to get head to the upside. At the time of writing, the market price is hovering at $0.07, and it could become cheaper to allow new investors to come into the market.
DeFi Coin Price Prediction: DEFC/USD Will Retrace Back to the Top
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 $0.07 level. Any further bullish movement could push the coin towards the upper boundary of the channel which will hit the potential resistance levels of $0.14, $0.15, and $0.16 respectively.
On the contrary, the current analysis could be delayed if the bears break towards the lower boundary of the channel and could fall to the support levels of $0.03, $0.02, and $0.01. Similarly, the technical indicator Relative Strength Index (14) remains below the 35-level to prepare the coin for the bullish movement in the next positive direction.
DEFC/USD Medium-term Trend: Ranging (4H Chart)
Looking at the 4hour chart, the DeFi Coin price is ranging 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.
Moreover, if the buyers push the price towards the north, it could reach the higher resistance level at $0.075 and above. At the moment, the technical indicator Relative Strength Index (14) stays below the 40-level, and should the bulls fail to move the current market value upward, the bears could bring the coin to the support level of $0.066 and below.
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