DEFC Recovers above $0.1350 As It Builds Strength on Market Surge

thepiperumbrella June 30, 2022

30 1 minute read

Defi Coin Price Forecast: DEFC Recovers above $0.1350 As It Builds Strength on Market Surge

Defi Coin Price Forecast: June 29

DEFC has continued its downtrend after breaking below the moving averages as it Builds Strength on Market Surge. The downtrend will persist as long as price bars are below the moving averages. In June, the cryptocurrency made an upward correction which was terminated. This resulted in further selling pressure to the downside.

DEFC Price Statistics Data :
DEFC price now – $0.1421
DEFC market cap – $1,668,822
DEFC circulating supply – 11,674,835.00 DEFC
DEFC total supply – $14,180,434
DEFC Coinmarketcap ranking – #4538

Key Levels:
Supply Zones: $0.3000, $0.4000, $0.5000
Demand Zones: $0.1000, $0.2000, $0.2500

DEFCUSD Long-Term Trend: Bullish (1-hour chart)

Since June 24, Defi Coin has been fluctuating below the $0.1550 overhead resistance. The bulls could not sustain the bullish momentum above the recent high. On June 28, there was a false breakout which resulted in further selling pressure. The cryptocurrency declined below the moving averages and plunged to the low of level $0.1320. The bulls bought the dips as the altcoin rebounded above the $0.1350 support. The cryptocurrency is recovering as the price breaks above the 21-day line SMA. DEFC/USD will resume trending if bulls break above the 50-day line SMA. The altcoin will be propelled to reclaim the high of $0.3000.

DEFCUSD Medium-Term Trend: Bullish (15-Minute Chart) – Builds Strength on Market Surge

Following the recent bearish run, the Defi Coin dropped to the low of $0.1329 as it Builds Strength on Market Surge. The altcoin has broken above the moving averages. This signals the resumption of the uptrend. The current uptrend has reached the overbought region of the market. The coin is likely to retrace and later resume the uptrend. DEFC is above the 80% range of the daily stochastic. It indicates that the market has reached the overbought region . Sellers will emerge in the overbought region but the uptrend will resume.