Decred Price Analysis: Will DCR maintain above $23.02


  • Decred currently trades near $25.98
  • Decred gain bullish momentum over the past week gaining 6.32%.
  • In terms of DCR support floor, it is now $23.02.
  • Decred price analysis is bullish today.

03 October 2022 : In this article we will walk you through Decred price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Decred, Is DCR a good investment? Decred support & resistance levels etc. But before diving deep into the DCR technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.34 percent, bringing the entire cryptocurrency market to $942,115,587,651. The total trading volume stands at $54,833,502,933. Bitcoin shares 39.77 percent of the entrie market while Ethereum has a dominance of 16.12%.
which resulted in Bitcoin's price rising to $19,547.55 level after an upward movement of 1.86%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 2.3 percent reaching to $1,326.36 during the previous 24 hours.
While publishing this blog, BNB traded at $288.62, following a price change of 2% within the same time frame. XRP the native coin of XRP is down by -0.52 and currently trading at $0.46. Additionally, Cardano reached $0.43 after seeing a uplift of 0.58% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Decred Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Decred (DCR)

DCR Resistance Levels DCR Support Levels
Resistance Level 1 $28.19 Support Level 1 $23.02
Resistance Level 2 $31.19 Support Level 2 $20.85
Resistance Level 3 $33.36 Support Level 3 $17.85

Decred Performance

The current Decred price is $25.98, with a trading volume of $2,239,078.00 in the past 24-hours. Currently, DCR is up by 0.82% since yesterday with a market capitalization of $374,101,187.00 USD.

Decred Price Analysis

DCR price analysis for 03 October 2022 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Decred.

Moving Averages Price Indicator
Simple Moving Average (10) 25.03 Buy
Exponential Moving Average (10) 25.14 Buy
Simple Moving Average (20) 25.40 Buy
Exponential Moving Average (20) 25.42 Buy
Simple Moving Average (50) 28.25 Sell
Exponential Moving Average (50) 28.15 Sell

The Relative strength index (RSI) for DCR Coin is currently hovering at 57 for 14-days average line, which means DCR is moving towards overbought zone. The DCR/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term buy signal as the MACD line is moving above Signal Line Which means bulls are dominating in the market. In accordance with the conventional pivot, the crucial immediate resistance for DCR may be found at $28.19, followed by $31.19. In the meantime, the cryptocurrency's support levels were located at $23.02 and then $20.85. While DCR’s Williams %R indicator is at -73.489 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range.

Conclusions

Decred market shows a bullish signs, and bulls can push DCR higher in the coming sessions. DCR has a resistance at $28.19, beyond which the coin would move toward next crucial resistance at $31.19.