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DeFiChain (DFI) is a public Blockchain platform that utilizes a combination of smart contracts and cross-chain technology. This helps to enhance and build a decentralized network of interconnected blockchains. It also increases the transaction speed and provides a reliable platform for the development of decentralized applications and services.
DeFiChain is a blockchain-based platform for payment processing, fund management and risk management in the financial sector. DeFiChain is a decentralized banking system that will enable financial institutions to build and operate a private and public distributed ledger for the recording of funds, transactions and the management of risks.
We utilize historical data, price analysis, RVOL, MA, and other information about DeFiChain (DFI) to evaluate the cryptocurrency’s future trend in Technical Analysis of DeFiChain (DFI) for 2021.
DeFi is a decentralized blockchain network that offers anybody, everywhere with quick, intelligent, and transparent decentralized financial services. It offers proven security and immutability by anchoring its most Merkle root in the Bitcoin blockchain every few minutes, according to the proof-of-stake consensus process.
The DeFi blockchain is intended for cryptocurrency investors who want their cryptocurrency to function like any other kind of money, allowing them to guarantee a return regardless of market conditions.
Current Market Situation for DeFiChain (DFI)
At the time of writing, the DFI price was trading at $2.49, with a 24-hour trading volume of $1,768,712, according to CoinGecko. DFI, on the other hand, has risen by 3.1 percent in the past 24 hours. DFI trades on Bittrex, Bitrue, LATOKEN, Hotbit, and KuCoin at the moment.
DeFiChain (DFI) Technical Analysis 2021
DFI may be pushed to new heights by current advancements and improvements. Let’s take a closer look at the DFI technical analysis for 2021. The DeFiChain (DFI) daily time frame chart is given below.
Descending Falling Wedge Pattern (DFI/USDT) (Source: Tradingview)
A bullish pattern that begins at a high and shrinks as the market falls is known as a descending falling wedge. This price movement, however, created a downward cone. When a trend’s highs and lows converge. This indicates that, as a result of the large amount of trading during this period, the price of DFI will continue to increase and, in the not-too-distant future, will exceed its all-time high price.
DFI is now trading at $2.43. Following that, DFI may continue to decline or increase, depending on the breakout direction. With this trend, DFI may soon hit the $4.96 resistance level. If the trend continues, DFI’s stock may decrease below $1.75.
RSI for DeFiChain (DFI)
The relative strength index (RSI) of DFI is shown in the chart below.
RSI DFI (Source: TradingView)
The RSI is still at 58.8 as seen in the chart above. This indicates that the price of DFI is neither overbought nor oversold. This, on the other hand, demonstrates that merchants may trade without worry.
RVOL DeFiChain (DFI)
The Relative Volume of DFI is shown in the graph below. It’s a metric that shows traders how the current trading volume has evolved over time in comparison to the prior trading volume.
RVOL DFI (Image courtesy of TradingView)
DFI’s RVOL is now below the cutoff line, indicating the weaker players in the current trend.
Moving Average DeFiChain (DFI)
The Moving Average (MA) of DFI is shown in the graph below. MA aids traders in identifying patterns.
MA DFI (Source: TradingView)
DFI is now in a bearish condition. However, the price of DFI has reached the 50-MA level (short-term), and it has a good probability of rising above it. DFI may be able to go over 200 MA (long-term) in the near future.
It fully changes to a bullish condition if it climbs over the 50 MA and 200 MA levels. Furthermore, Trend reversal is a distinct possibility at any moment.
Comparison between DeFiChain (DFI) vs Bitcoin
The price comparison between DFI and BTC is shown in the graph below.
Chart comparing the prices of DFI and BTC (Source: TradingView)
The trend of the BTC can be seen on the chart, while DFI is going in lockstep with the trend. This means that when the price of BTC rises or falls, the price of DFI rises or falls as well.
With the continuing improvements and updates to the DFI platform. In current crypto economy, DeFiChain has a bright future ahead of it. DFI, on the other hand, has the potential to soar to new heights.
The bullish price forecast for DFI in 2021 is $4. As previously said, it has the potential to reach tremendous heights, but it may also reach $4.96 if investors believe that DFI is a solid investment in 2021.
What exactly is DFI?
DFI is a decentralized blockchain platform that enables decentralized financial services that are quick, intelligent, and transparent. It’s based on the cryptocurrency Bitcoin. DeFiChain is the native coin.
DFI may be purchased from a variety of sources.
KuCoin, Bitrue, LATOKEN, Hotbit, and Bittrex are just a few of the cryptocurrency exchanges that have DFI listed.
Will DFI be able to set a new ATH in the near future?
With the DFI platform’s continuous improvements and enhancements, it has a good chance of achieving its ATH shortly.
Disclaimer: The views stated in this graph are entirely those of the author. It should not be construed as investment advice. Before investing, TheNewsCrypto staff advises everyone to conduct their own research.
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DeFiChain [DFI] is a next-generation asset-backed blockchain that enables creators of security tokens and digital assets (“SDAs”) to create and transfer their assets securely and efficiently. DFI’s secure, permissioned blockchain platform validates and tracks the ownership of assets on the blockchain.. Read more about defichain coin buy and let us know what you think.
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