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Defi Coin Price Forecast: DEFCUSD Price Reversal at the $0.05572 Support Value is Imminent (November 22)
DEFCUSD pair is likely to face the positive side soon. After testing the bottom support, a usual response would be a bullish reversal; thus, if the buyers eventually wrestled trend control from sellers and rebound from the $0.05572 support level, the bullish momentum might possibly drive the coin price to a high at $0.4000 supply trend line.
Key Levels:
Resistance Levels: $0.08100, $0.08200, $0.08300
Support Levels: $0.05500, $0.05400, $0.05300
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 the sell traders. However, this will be invalidated soon as the market is oversold already.
Due to low bullish momentum, the coin price found support at the $0.05572 level below the two EMAs as the 4-hourly chart resumes today. Nevertheless, today’s price drop to the mentioned support value has still not stalled the bull run as the bulls are set to take charge and prevent any further dips. Traders might seize this opportunity to invest in the coin now at a lower rate for future gains ahead.
Thus, if buyers could change their orientation and push the price of Defi Coin higher, a break above $0.08500 would intensify the buying pressure on the crypto.
In addition, the market is oversold already, this now calls for more buyers to emerge soon and push the coin price up to the upside, and in this case, the price might possibly hit the $0.4000 resistance value in the coming days in its higher time frame.
DEFCUSD Medium-term Trend: Bearish (1H Chart)
DEFCUSD is bearish in the medium-term perspective. The short traders are also involved in the order flow and the price bar is below the moving averages, this means that the pair is in a bearish market zone.
The coin price hovers at around the $0.05572 support mark as the 1-hourly chart opens today. There is likely to be a steady increase in the price soon as the coin is set for a price reversal at the mentioned low level.
Thus, if additional selling power is prevented by the bulls the price may likely hit the previous high of $0.05760 and beyond.
In addition, the price of Defi Coin is now in the oversold region of the stochastic, this suggests that the selling pressure will end soon and the cryptocurrency is about to resume an upside movement. It is therefore expected of buyers to push the coin price up to a $0.4000 high level and beyond as we cross our fingers and watch out for BUY soon in its medium-term perspective.
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