Decred Price Analysis: Will DCR Surge to hit $28.68


  • Decred’s EMA(10) shows a downward trend.
  • Decred price analysis is bearish today.
  • Decred is presently valued at $24.27
  • DCR/USD is confronted with resistance level of R1 at 28.68 dollars.

29 February 2024 : 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 -1.84 percent, bringing the entire cryptocurrency market to $2,270,459,173,853. The total trading volume stands at $155,608,056,446. Bitcoin shares 53.01 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price rising to $61,240.58 level after an upward movement of 1.47%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 1.07 percent reaching to $3,348.99 during the previous 24 hours.
While publishing this blog, BNB traded at $402.25, following a price change of -1.46%within the same time frame. SOL the native coin of Solana is up by 12.08 and currently trading at $127.33. Additionally, XRP reached $0.60 after seeing a uplift of 4.54% 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 $28.68 Support Level 1 $23.61
Resistance Level 2 $31.63 Support Level 2 $21.49
Resistance Level 3 $33.75 Support Level 3 $18.54

Decred Performance

The price of Decred (DCR) is at $24.27, down -6.56% in the past 24-hours and has a price change of 5.22% over the week. One day trading volume for BTC is 7,853,745.00 USD while total marketcap reached $357,332,392.00 USD. There are almost 14,724,479 are in circulation out of 14724479.

Decred Price Analysis

DCR price analysis for 29 February 2024 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) 25.63 Sell
Exponential Moving Average (10) 25.87 Sell
Simple Moving Average (20) 25.78 Sell
Exponential Moving Average (20) 25.89 Sell
Simple Moving Average (50) 26.66 Sell
Exponential Moving Average (50) 26.67 Sell

The MACD line is standing above of the signal line after a positive crossover. Decred investors need to wait for any directional change over the daily chart. While DCR’s Williams %R indicator is at -49.901 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The relative Strength Index (RSI) indicates that the DCR coin is in heading towards overbought zone, as RSI is at 54. In accordance with the conventional pivot, the crucial immediate resistance for DCR may be found at $28.68, followed by $31.63. In the meantime, the cryptocurrency's support levels were located at $23.61 and then $21.49.

Conclusions

Decred has few recovery chances and might continue testing immediate resistance level of $28.68 in the coming days. While the gradual bullish movement in the overall cryptocurrency space can keep DCR investors hopeful.