- The DCR coin is currently in a bearish trend.
- It is currently trading at $13.32 with an intraday rise of 2.4%.
- The token is down by 94.5% from its all-time high value.
The DCR token has been recording significant losses from the last 1 year where the token’s value has declined by almost 46%. It is currently trading below a bearish trendline. The token price is currently approaching the support of $12 from where it is likely to bounce and reverse the trend.
The coin price can also move upwards from the current position as the daily trading volume has immensely increased. Suppose the DCR price starts to move upwards and breaks the bearish trendline, it can be bullish for a short-term period. The target can be $22 if it breaks the resistance of $16.
The DCR coin is currently trading with an immense surge of 1000% in its trading volume in the last 24 hours. The token marked its all-time high on 17 April 2021 when its price was $250.02.
The present market cap of the token is $209.74M. It has a current circulating supply of 15.51M DCR, which is 73.88% of its total supply. The 24-hour trading volume of the token is 6.58M.
Sentiment Analysis:
The price of the token has increased by 2.15% and the total market volume of the token has surged by 511.6% in the last 1 day. The total bullish sentiments have recorded a rise of 1.03K% and the total social mentions have also increased by 1.13K%. The overall sentiment shows an upcoming bullish move in price as the trading volume is rapidly increasing.
Technical Analysis (Daily- 1D)
The daily chart of the token shows that the price is currently moving below a bearish trendline and presently the price is trading near the support level of $12. DCR coin’s price can move upwards from the same place, where it is currently trading. The trading volume is increasing more and more, and the price can break the bearish trendline and start a bullish move.
Also, the price can reach the support level of $12 and take support from that level. It will then take a bounce and start moving upwards. Suppose the DCR coin price breaks the support of $12, the next support is at $11.
The RSI line is currently moving at 53.35 points and the SMA 14 line is moving at 49.68 points. The RSI has presently moved above the neutral level of 50 after bouncing from the SMA 14. Since the increasing volume indicates the buying signal in the market.
In MACD, The fast blue line moving average is moving above the red slow line. The volume in the histogram is showing an increase. If the volume keeps on increasing, we can see a surge in the price of the token very soon.
DCR LIVE CHART :
Conclusion
The DCR coin price is presently under a bearish trend. The community has to keep on contributing significantly and the bullish investors have to be dominant on the bearish investors with the surge in the trading volume to take the price into a bullish trend.
Also, If the volume decreases and the community stays inactive, the price may continue its downfall.
Technical Levels
SUPPORT: $11 AND $12
RESISTANCE: $16, $22 AND $27
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.