DeFi Coin Price Forecast: May 17
Despite its recent decline from a high of $0.5668, DEFC may encounter a price rebound. The coin has been trading above the moving averages as shown in a higher time frame. There is a likelihood of resumption of an uptrend as the coin declined to the oversold region of the market. Buyers will emerge in the oversold region to push prices to the previous highs.
DEFC price now – $0.3132
DEFC market cap – $3,657,095
DEFC circulating supply – 11,674,835.00 DEFC
DEFC total supply – $31,219,920
DEFC Coinmarketcap ranking –
Key Levels:
Supply Zones: $0.5000, $0.4000, $0.3000
Demand Zones: $0.1000, $0.2000, $0.2500
DEFCUSD Long-Term Trend: Bullish (1-hour chart)- May Encounter a Price Rebound
On May 12, the DeFi Coin price declined to the low of $0.2846 and resumed a sideways move. The altcoin has declined to the oversold region of the market. Today, DeFi Coin is trading at $0.3137 at the time of writing. The current decline is likely to ease as DEFC trades in the oversold region of the market. Buyers are expected to take control of price as the market reaches bearish exhaustion. As sellers push the coin to the current support, DEFCUSD may encounter a price rebound. This will propel the coin rally above the resistance levels of $0.3774 and $0.3884.
DEFCUSD Medium-Term Trend: Bullish (15-Minute Chart)
DEFCUSD has fallen to the low of $0.3137 as it may encounter a price rebound. The market has fallen deeply into the oversold region. The current downtrend is likely to end as buyers take control of prices. As the DeFi Coin holds above the current support, buyers will attempt to push the coin to the previous highs of $0.3500 and $0.4000 price levels.
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