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Defi Coin Price Forecast: DEFCUSD May Break Up the $0.09728 High Mark Soon (November 15)
DEFCUSD after completing the low dips is on the verge of reversal at the moment. An increase in the bulls’ pressure may break up the $0.09728 supply value and this may swing up the crypto’s price to a $0.1000 and $0.2000 supply trend lines and beyond.
Key Levels:
Resistance Levels: $0.08500, $0.08600, $0.08700
Support Levels: $0.07400, $0.07300, $0.07200
DEFCUSD Long-term Trend: Bearish (4H Chart)
The market value of DEFCUSD can be seen in a bearish scenario in its long-term outlook. This is due to interference from sell traders. The coin price can be seen below the two EMAs which are fanned apart, indicating a downward trend.
However, this trend will soon be invalidated as the buy investors are warming up to take over the market.
Earlier today, the bulls’ action increases the coin price up to the $0.07360 high mark above the EMA-9 even as the 4-hourly session opened today. Sellers overridden this pattern and dropped the price to a low of $0.072002 value.
Hence, the coin price may likely reverse soon and face the upsides if the buy investors should add extra effort to their buying activities in the market. Thus, a break above $0.08008 previous swing high would intensify a high buying pressure on the crypto.
Similarly, the Defi Coin price is about to experience a bullish correction trend pattern as the market is below the 20 value of daily stochastic. So the price could be ready very soon for another jump. In this case, the price may break up the $0.09728 resistance value which may possibly extend to the $0.2000 supply trend line soon in its higher time frame.
DEFCUSD Medium-term Trend: Bullish (1H Chart)
The DEFCUSD pair is in a downtrend in its medium-term outlook. The price bars are below the moving averages, this means that the pair is in a bearish market zone.
The smooth ride to the $0.07418 high mark shortly after the 4-hourly session begins indicates the high impact of the bulls in the market. The involvement of the bears however made the price trade at a $0.07002 low level below the moving averages.
Meanwhile, traders who also buy or invest in the coin during the bearish market cycle will also make more profits in the future. Further, if the bulls could prove stronger and additional selling power is prevented the coin price may likely break above the $0.08008 supply value.
In addition to that, there is a possibility of a bullish breakout as the market price of Defi Coin is oversold already. Therefore the bulls are expected to resume the bullish correction rally soon, if this is achieved, the coin price might possibly break up the $0.09728 previous high which may likely reach the $0.2000 high mark sooner in its medium-term perspective.
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