DeFi Coin (DEFC) Consolidates for a Stronger Hold Higher

Share On Facebook
share on Linkedin
Print

DeFi Coin (DEFC) Price Analysis – August 2

After last month’s fall paused on the approach to daily cloud base and subsequent positive finish, the DEFC continues to consolidate its position in early August as recovery sustains, buyers are adding additional evidence to cement reversal. On July 31, the team said it will lock in DeFi Coin Liquidity for a one-year contract within 72 hours. Locking liquidity not only protects trade volume but also demonstrates a commitment to the DeFi Coin Protocol.

Key Levels
Supply Levels: $2.186, $1.500, $1.277
Demand Levels: $0.661, $0.500, $0.075
DeFi Coin (DEFC) 12-Hour Chart: Ranging
The DeFi Coin (DEFC) will most likely rebound from the ascending trendline support around the $0.833 level before recovering to the $1.277 resistance level, according to the price most likely scenario. Alternatively, until a new fundamental catalyst arises to prompt a range breach, the DEFC could remain range-bound between $0.661 and $1.277.

However, the positive relative strength index (RSI) price divergence in the coin is still extending up to $1.500. This raises the probability of the coin rallying to rise in the medium run. A notable entry for the DEFC will be on a bounce off the ascending trendline at $0.833 or on a reach of the horizontal support level at $0.661 if a short decline occurs.

Source: https://learn2.trade

Click Here to register for free on Investors Hub

This area of the investorshub.advfn.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of Investors Hub. Investors Hub does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at Investors Hub is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by investorshub.advfn.com and is not intended to be relied upon by users in making (or refraining from making) any investment decisions.

Comments are closed

 


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.