DEFCUSD Is Negotiating for a Bullish Drive
DeFI Coin Market Anticipation – June 10
The DeFI Coin market anticipation is for the coin to negotiate its way past the $0.32650 significant level and then drive upward from there.
DEFCUSD Long-Term Trend: Bullish (1-hour Chart)
Supply Zones: $0.32650, $0.39180
Demand Zones: $0.2500, $0.28750
DeFI Coin is on the verge of breaking from the $0.32650 price level. The market has done well to defy the odds by forcing the price out of the descending channel that has conducted the market downward for several weeks. Having broken out from the descending channel, DeFI is now ready for more bullish adventures. Only it has to negotiate past the $0.32650 resistance first.
DeFI Coin Market Anticipation: DEFCUSD Market Prospects
The month of May sees a tremendous surge in the DeFI market. The price is seen to rise by more than 35% from the $0.28750 support level. The coin was eventually blocked at the $0.39180 resistance level.
After the price suffers rejection at $0.39180, the sellers took advantage of the situation to conduct the price downward in a descending channel. DEFCUSD is seen to undulate downwards from May into June.
However, on the 7th of June, the market picks some bullish impetus and breaks out of the channel. The price is now left trying to negotiate its way past the $0.32650 level. The Moving Average period 50 is trying to keep the price below.
DEFCUSD Medium-Term Trend: Bullish (5-Minute Chart)
On the 5-minute chart, after testing the resistance level repeatedly, the price has dipped slightly below the uptrend line and below the MA period 25. Notwithstanding, the price retains more bullish momentum and the coin is expected to recover to a level above the trend line.
The dip in price has made the line of the RSI (Relative Strength Index) indicator dip below the equilibrium into an oversold status. This also means an imminent rise in prices is expected. The 5-minute candles are already oscillating to return upwards. Upon recovery, if the coin breaks the $0.32650 level, it will return to the $0.39180 resistance.
You can purchase DeFi Coin here: Buy DEFC
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