04 February 2023 : 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.
Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $1,083,205,373,527. The total trading volume stands at $51,016,123,981. Bitcoin shares 41.6 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $23,374.96 level after a decline of -0.59%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 0.86 percent reaching to $1,661.57 during the previous 24 hours.
While publishing this blog, BNB traded at $329.28, following a price change of 0.86% within the same time frame. XRP the native coin of XRP is down by -0.14 and currently trading at $0.41. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% 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.
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|
The price of Decred (DCR) is at $23.85, up 0.67% in the past 24-hours and has a price change of 13.97% over the week. One day trading volume for BTC is 2,804,948.00 USD while total marketcap reached $350,305,133.00 USD. There are almost 14,685,830 are in circulation out of 14685830.
DCR price analysis for 04 February 2023 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.
|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.
There had been a positive trend for some time and it seems that the coin will continue it upward movement as long as it remains in the green area. You should only acquire crypto right now if you're prepared to book profit through short-term market moves.