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Defi Coin Price Forecast: DEFCUSD Remains Strong above the $0.06284 Supply Mark (November 29)
The DEFCUSD pair at the moment is trying hard not to fall by resisting sellers, in case the bulls’ pressure breaks up the resistance level of $0.07026, the coin price may increase further to a $0.2000 high trend line which indeed will be a turnaround for the coin holders.
Key Levels:
Resistance Levels: $0.09500, $0.09600, $0.09700
Support Levels: $0.08200, $0.08100, $0.08000
DEFCUSD Long-term Trend: Bullish (4H Chart)
DEFCUSD remains bullish on the higher time frames. This is clear as we can see the prices trading above the moving average lines indicating an uptrend.
The coin price finds reliable resistance at around the $0.06358 level above the two EMAs, resulting in intraday gains. Hence, staying above the resistance trend lines indicates a strong possibility for a bullish correction.
The pair however shows the continuation of bullish sentiment. After testing the lows of $0.06236 in the previous action, sellers look exhausted while the price of
Defi Coin remains above the $0.06284 value as the price continues to sustain an upward move as indicated by the momentum indicator. But the downside risk remained uncertain. Thus, the next bulls’ target might be the $0.2000 high level in the days ahead in its long-term outlook.
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 averages. This shows that buyers are currently gaining more strength in the market.
In the previous session, the coin price was ranging above the two EMAs but additional buying pressure pushed the price above the critical level from the $0.06304 value to the $0.06358 resistance level above the moving averages. This will however give the buy traders the tendency to further ladder up the trend. To push the price above the supply zone more buyers’ participation is a prerequisite.
However, there is a possibility of a further increase in the price of Defi Coin, if the buy traders should increase their price actions and all the current support level holds, a psychologically key level at the $0.2000 supply level might be reached soon in its medium-term time frame.
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