- Decred Price fell 9% in the current month and is trading near to the yearly lows.
- DCR Price below the 50 and 200 day EMA showcase downtrend.
- The Decred Price Prediction is bearish till it trades below $28.00 level.
Decred Price fell 9% in the current month and formed a highly bearish pattern. It is continuously declining by forming lower low swings and trading near to the yearly lows.
DCR Price seems quite volatile and long shadows in candles are visible. Buyers tried their best to keep the prices above $20.00 but due to the strong presence of sellers prices continued to decline.
Decred Price faced rejection from the 200 day EMA and also dropped below the 50 day EMA showcase downtrend. Prices tried multiple times to break the 50 day EMA but failed. Therefore, If any pullback arrives then both the EMAs will act as an immediate hurdle for the bullish traders.
In the past few months, DCR crypto witnessed a surge in the trading volume and prices also reacted positively. However, the prices failed to give the follow up momentum and reverted back in the downward direction.
Decred Price is trading at $16.61 with an intraday decline of -0.12%. The 24 hour volume to market cap ratio is 0.0026. The pair of DCR/BTC is trading at 0.000598 with an intraday decline of -0.50%. The chart structure of Decred with the Bitcoin pair is in a strong downtrend and sellers seem to be active in both the pairs.
Will Decred Price respect the $10.00 support?
Decred Price corrected 42% approx from the recent swing high at $28.00 and eroded the majority portion of the previous gains. From the past couple of months, DCR Price is consolidating in the wide range between $18.00 to 28.00.
It showed the signs of the base formation and created a positive hope for the trend reversal. However, Recently the price has dropped below $18.00 which hurted the sentiment of investors.
If the sell off continues in coming weeks then bears may try to drag the price down to $10.00. The technical analysis suggests DCR price is in a strong downtrend and any short term up-move will face difficulty to sustain the higher levels.
DCR crypto price will gain the confidence of investors when buyers succeed to break the $28.00 hurdle. Else the sustainability of the pullback will remain doubtful.
DCR Price: Technical outlook
DCR Price fell for six consecutive weeks and still no sign of short term pullback is visible. However, the overall market sentiment is improving which might positively impact the prices of Altcoins.
The technical indicators like MACD have generated a positive crossover but the curve is sloping sideways. It indicates prices are expected to consolidate for some time before deciding the further direction. Whereas the RSI at 41 also sloping sideways denotes prices may test the neutral territory.
Conclusion
Decred Price fell 9% in the current month and formed a bearish pattern. DCR crypto prices are in a strong downtrend and no signs of recovery are visible.
The technical analysis suggests. DCR price is in bear grip and more downside is possible. However, $10.00 is multi year low which might act as strong support in coming months.
Technical levels
Resistance levels: $22.00 and $28.00
Support levels: $16.00 and $10.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.