Defi Coin Price Forecast: August 20
DEFCUSD price will move higher above the current resistance level if the buyers should triple their efforts to forecast a bullish increase in the market above the $0.1262 resistance level, $0.2000 upper high level may be retested.
DEFC Price Statistics Data:
DEFC price now: $0.1175
DEFC market cap: $11.715M
DEFC circulating supply: N/A
DEFC total supply: $100.00M
DEFC Coinmarketcap ranking: #5378
Key Levels:
Resistance Levels: $0.1250, $0.1350, $0.1450
Support Levels: $0.1150, $0.1050, $0.0950
DEFCUSD Long-term Trend: Bullish (1-hour chart)
DEFCUSD price seems to have pullback a little but the overall trend is still bullish. As a result of price rejection at this level, there was an immediate reversal. Buyers pushed the price higher to the $0.1287 resistance level during yesterday’s session.
Today, the price is making higher highs and higher lows. However, presently the coin trades at the $0.1175 resistance value slightly above the EMA-9, this implies a gradual weakness in the strength of the sell traders while the buyers are becoming more active.
The moving averages have already widened their gap, indicating that the bulls are regaining market strength
Hence, fresh entries by the buy traders toward the higher side are likely as indicated by the momentum indicator pointing up in the oversold region, the bulls could therefore aim at the psychological $0.2000 level in the upper resistance area in the days ahead in its long-term perspective.
DEFCUSD Medium-term Trend: Bullish (15-Minute 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 the buyers are currently gaining more strength in the market.
In the previous session, the price closed below 9- EMA, but additional buying pressure pushed the price above the critical level of $0.1180 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 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 $0.1260 to reach $0.2000 upper resistance level in the lower time frame as we watch the market turns bullish.
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