DeFi Coin Price Prediction: DEFC/USD Touches $0.08 Level; Best Time to Buy
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The DeFi Coin price prediction drops to touch the daily low of $0.08 as the price dips for new buyers to surface.
DEFC/USD Medium-term Trend: Bearish (12-Hour Chart)
Key Levels:
Resistance levels: $0.15, $0.17, $0.18
Support levels: $0.05, $0.03, $0.01
DEFC/USD is currently trading at $0.08 below the 9-day and 21-day moving averages. The sellers are bringing 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 12-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) moves into the oversold region. Meanwhile, the coin will experience new buyers coming into the market, but any further supports could be located at $0.05, $0.03, and $0.01 respectively.
However, should the buyers hold the current support of $0.08 and push the coin higher; the bulls can expect immediate resistance to be located at $0.12. Any further bullish movement above the upper boundary of the channel could hit the resistance level of $0.15, $0.17, and $0.19.
DEFC/USD Medium-term Trend: Bearish (4-Hour Chart)
On the 4-hour chart, the DeFi Coin price heads toward the lower boundary of the channel, this will give the new buyers the opportunity to enter the market. Nevertheless, the existing buyers are also expected to buy the dip as the buyers gather momentum to begin a new bullish movement.
From above, if the buyers push the price above the upper boundary of the channel, the potential resistance level could be found at $0.13 and above. Moreover, should the coin slide below the lower boundary of the channel, another support may come at $0.05 and below while the Relative Strength Index (14) stays within the oversold region.
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