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Defi Coin Price Forecast: DEFCUSD Price Claims another Bullish Cycle (December 6)
The DEFCUSD pair is in an upward move at the moment. The coin price breaks up another resistance level of $0.05944, suggesting buyers are hoping to extend the bullish correction rally. Therefore, if the bulls could triple their buying pressure and the coin price closes above the current supply level, the target might be the $0.400 resistance value.
Key Levels:
Resistance Levels: $0.06500, $0.06600, $0.06700
Support Levels: $0.05600, $0.05500, $0.05400
DEFCUSD Long-term Trend: Bullish (4H Chart)
The price of DEFCUSD is in an uptrend as bullish clouds hover above the crypto market in its long-term perspective. As a result, the coin price has recently broken up the $0.05944 psychological supply, indicating the buy traders are looking to continue the next rally up. This will enable the price to rise further as the bulls are set to take the price of Defi Coin further up.
Today, the price is making higher highs and higher lows. However, presently the coin trades at the $0.05944 supply mark slightly above the EMA-9, this implies a gradual weakness in the strength of the sell traders while buyers are becoming more active.
Hence, fresh entries by the buy traders toward the higher side are likely as the bulls are seen clustered around the market at the present. The buy investors could therefore aim at the psychological $0.400 level in the upper resistance area in the days ahead in its long-term perspective.
DEFCUSD Medium-term Trend: Bullish (1H Chart)
Despite the interference of short-term traders in the price flow, the lower time frame market shows a bullish race. The price of DEFCUSD can now be seen progressing upward above the moving average lines. This shows that buyers are currently gaining more strength in the market.
In the previous session, the coin price closed above the supply trend lines, this gives the pair more strength to remain on the upside as the buy traders added an additional buying pressure which now pushed the price of Defi Coin up to the $0.05944 high mark above the moving averages as the 1-hourly session begins today. This will however give the buy traders the tendency to further ladder up the trend. Thus, to push the price above the supply zone more buyers’ participation is a prerequisite.
However, there is a possibility of more upsides as shown by the daily stochastic pointing up; it is expected of the long traders to continue with the bullish race to a significant level and break above the $0.06500 to reach $0.4000 upper trend line in the lower time frame as we watch the market remains strong above the resistance trend lines.
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