DEFC Surges Ahead As It Reaches Its Initial Target At $0.07200

Defi Coin Price Forecast: October 16DEFC is in an uptrend as it reaches its initial target at $0.07200. In the previous price action, Defi Coin declined to the previous low and resumed consolidation above it. Buyers have been attracted to the lower levels of price. In other words, buyers have emerged in the oversold region of the market.

DEFC Price Statistics Data:DEFC price now – $0.0684DEFC market cap – $800,745DEFC circulating supply – 11,674,835.00 DEFCDEFC total supply – $6,858,726DEFC Coinmarketcap ranking – #6406

Key Levels:Supply Zones: $0.3000, $0.4000, $0.5000Demand Zones: $0.0760, $0.0730, $0.0700

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

Defi Coin is in a downtrend but the altcoin makes an upward correction. On October 13, the crypto’s price rallied above the 21-day line SMA but failed to breach the 50-day line SMA. Consequently, the altcoin declined to the previous low. Today, buyers have pushed the coin above the 21-day line SMA as they attempt to break the 50-day line SMA. A break above the moving average lines will catapult the coin to the high of $0.07200.

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

On the 15-Min Chart, DEFC surges ahead as it reaches its initial target at $0.07200. Defi Coin has risen to the high of $0.06792 at the time of writing. The altcoin is rising despite reaching the overbought region of the market. In a strong trending market the overbought condition may not hold. The coin has reached the overbought region above the 80% range of the daily Stochastic.

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