DeFi Coin Price Prediction: DEFC/USD Retreats Below $0.30; Opportunity to Buy
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The DeFi Coin price prediction keeps dropping below the 9-day and 21-day moving averages as the price becomes cheaper for new buyers to come.
DEFC/USD Medium-term Trend: Ranging (4H Chart)
Key Levels:
Resistance levels: $0.35, $0.37, $0.39
Support levels: $0.25, $0.23, $0.21
DEFC/USD will begin to prepare for a bullish movement as the coin retreats below $0.30. This is necessary for the coin to reach the higher resistance levels and for the new investors to come into the market. Therefore, if the sellers push the market further lower, bears can expect immediate support to be located below the lower boundary of the channel.
DeFi Coin Price Prediction: DEFC/USD Will Rebound to the Upside
At the time of writing, the DeFi Coin price consolidates below the 9-day and 21-day moving averages, this would be a good opportunity for the existing buyers to buy the dip should the coin falls more. In addition, the technical indicator Relative Strength Index (14) moves into the oversold region. Beneath this, further supports could be found at $0.25, $0.23, and $0.21.
On the contrary, if the buyers hold the current market value and push it to the upside, the bulls can expect potential resistance levels to be located at $0.35, $0.33, and $0.31 levels.
DEFC/USD Medium-term Trend: Bearish (2H Chart)
On the 2-hour chart, the DeFi Coin (DEFC) is ranging as the buyers are coming into the market and this will bring the coin to cross above the 21-day moving average. DEFC/USD is trading above the 9-day moving average at $0.30.
Looking at it from above, the buyers are getting ready to spike towards the upper boundary of the channel while higher resistance lies at $0.33 and above, but any bearish movement could hit the support at $0.27 and below as the technical indicator Relative Strength Index (14) is trying to recover from the oversold region.
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