DeFi Coin Price Prediction: DEFC/USD Trades Near $0.13 Resistance
June 22, 2022
#DEFC#DEFCUSD#DeFi Coin#Technical Analysis
DeFi Coin Price Prediction – June 22
The DeFi Coin price prediction shows that DEFC is yet to display a significant bullish move as the market may range-bound.
DEFC/USD Medium-term Trend: Ranging (4H Chart)
Resistance levels: $0.17 $0.19, $0.21
Support levels: $0.09, $0.07, $0.05
DEFC/USD is trading above the 9-day and 21-day moving averages as the price moves to touch the resistance level of $0.126. The market price is moving sideways while the coin is getting ready for the upside. Meanwhile, DEFC/USD remains in an unstable market as a price surge is more likely to play out.
DeFi Coin Price Prediction: DEFC Price Would Surge to the Upside
The DeFi Coin price remains intact, and for an upsurge to play out, DEFC/USD needs to cross above the upper boundary of the channel, which may cause the coin to meet the nearest resistances at $0.17, $0.19, and $0.21 before traders can consider additional levels for the trade.
On the contrary, a down surge below the lower boundary of the channel could move the market to $0.09, $0.07, and $0.05 supports. Meanwhile, the technical indicator shows that the Relative Strength Index (14) is moving to cross above the 50-level, showing a bullish movement.
DEFC/USD Medium-term Trend: Ranging (2H Chart)
On the 2-hour chart, the DeFi Coin is currently changing hands at $0.126 above the 9-day and 21-day moving averages. If the bulls can hold the price tight and push it above the upper boundary of the channel, the next key resistance level could be at $0.14. Reaching this level could move the coin to $0.15 and above. However, the Relative Strength Index (14) remains above the 60-level, which could give additional bullish signals.
However, if the bulls fail to get the price to the nearest resistance, the market may head to the south. Similarly, the DeFi Coin price is likely to see a sharp drop below the moving averages. Breaking towards the lower boundary of the channel could bring the market to the support level of $0.11 and below.
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