Decred (DCR) Coin Technical Analysis: Exploring Price Trends

• Decred (DCR) is currently trading at $14.03, with a rise of -14.25% in the 24 hours.
• Decred (DCR) live market cap is $212078493.
• Decred (DCR) faced a rise of 6.78% in the last seven days.

By studying historical price data, Decred (DCR) is a downtrend. The price has risen by 6.78% in the last seven days, and Decred (DCR) is underperforming. But some indicators like RSI and Stochastic RSI give neutral signals. The peak price of DCR was $247.35 about two years ago, and from there, it fell about -94.29%. As we know, the current market sentiments could be better, and there is no significant volume or buyers available in the current market condition. It could be a reason for the lousy performance of the coin.

Decred (DCR) Price Analysis

EMA: Decred (DCR) Price is trading below the 200-day EMA and 50-day EMA on the daily time frame, which is a negative sign. Investors’ sentiments regarding Decred (DCR) are negative and are on the selling side.

MACD:  The indicator moving average convergence divergence is also on the bearish side. It gives a negative signal. The MACD line at -0.841328 and the signal line at  -0.0956549  are below the zero line, suggesting the MACD is in negative territory and giving bearish signals.

RSI: The current value of RSI is 50.11 points, and the 14 SMA line is below the median line, around 36.07  points which shows bearish sentiment in the market.   The 14 Day SMA line is under the median. It indicates a negative sign or bearish sentiment in the market as the price is currently at an oversold area.

Stochastic RSI: In the stochastic RSI, the %d line is 54.40, and the %k line is 76.74  points. The %d line indicates that RSI is heading toward the overbought zone. On the other hand %k line shows neutral sentiments regarding the price.

Volume Analysis: Decred (DCR) trading volume of 24 hours is $21025904 with an increment in volume of 469.70%, Showing a rise in the market activity.

Technical levels:

• Support – The current support level of Decred (DCR) is $12.076.
• Resistance –The current resistance level of the Decred (DCR) is $18.912.

Conclusion

Decred price presently shows a pessimistic scenario according to the near future. Indicators like EMA and MACD give negative signals. In contrast, Indicators like RSI and Stochastic RSI give neutral signals about the   DCR coin, and Investors also do not show any significant buying interest. The buyers are not taking considerable buying interest because of bad sentiments in the market and the underperformance of the coins.

Disclaimer

The analysis given above is for informational and educational purposes only. You should not take it as financial, investment, or other advice. Investing in or trading crypto assets is risky. Please consider your circumstances and risk profile before making any investment decisions.