DEFC Stalls Decline as It Attracts Buyers in the Oversold Region

On Aug 13, 2022

Defi Coin Price Forecast: August 12

DEFCUSD is in a downward correction as it attracts buyers in the oversold region. Since August 8, Defi Coin has been declining from the high of $0.1461. Buyers could not keep the price above the $0.1500 high as the market reached the overbought region.

DEFC Price Statistics Data:
DEFC price now – $0.1312
DEFC market cap – $1,531,932
DEFC circulating supply – 11,674,835.00 DEFC
DEFC total supply – $13,121,663
DEFC Coinmarketcap ranking – #6700

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)

In the recent upward correction, buyers intended to breach the resistances at $0.1500 and $0.1600 price levels. The breaking of these resistance levels will catapult the altcoin out of downward correction. In other words, Defi Coin will resume upside momentum and reclaim the previous high of $0.3300. Meanwhile, the bulls are attempting to stall the decline above level $0.1304 price level. The cryptocurrency will resume an uptrend if the altcoin finds support above the level of $0.1304 or above the moving average lines.

DEFCUSD Medium-Term Trend: Bullish (15-Minute Chart)

Defi Coin price is consolidating above the moving average lines for a possible price rebound as it attracts buyers in the oversold region. However, the price movement is insignificant because of Doji candlesticks. Defi Coin is below the 20% range of the daily stochastic. It indicates that the market has reached oversold. Buyers will emerge in the oversold region to push prices upward.