In this Decred technical analysis, we will examine the current price action, trading volume, key levels and indicators for DCR-BTC. Decred is a blockchain-based cryptocurrency that utilizes a unique hybrid consensus algorithm, called “Proof of Work (PoW) + Proof of Stake (PoS),” which combines the security of PoW with the energy efficiency of PoS. This allows Decred to achieve fast and secure transaction processing while also being environmentally friendly. Additionally, Decred has a built-in governance system that allows holders of the cryptocurrency to vote on proposals for the development and growth of the network.
Decred Price Overview:
As of September 22, 2023, Decred is trading at approximately 0.00049 BTC. Let’s dive into the detailed price action for DCR-BTC:
| Metric | Value |
|---|---|
| Open (O) | 0.00049 |
| High (H) | 0.0005 |
| Low (L) | 0.00049 |
| Close (C) | 0.00049 |
| Volume (C) | 3,277.04 |
- Open (O): The opening price for today’s trading session was approximately 0.00049 BTC.
- High (H): Decred reached a daily high of around 0.0005 BTC.
- Low (L): The daily low for DCR-BTC was approximately 0.00049 BTC.
- Close (C): At the time of analysis, Decred is trading near its daily close of 0.00049 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | -0.41% |
| 3D Change (%) | -2.00% |
| 7D Change (%) | -1.01% |
| 30D Change (%) | 0.00% |
| 90D Change (%) | 2.30% |
| YTD Change (%) | -56.26% |
Over the past three days, DCRBTC has fallen by approximately -2.00%, showcasing increased market volatility. Throughout the last week, it continued to fall, with a loss of around -1.01%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with DCRBTC maintaining a downward trend of approximately 0.00%, despite intermittent fluctuations. Examining the last 90 days, DCRBTC has witnessed substantial rise of approximately 2.30%, reflecting strong long-term confidence. Year-to-date, DCRBTC has steadily dropped by around -56.26%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Decred Live Chart:
You can access a live price chart for DCR-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.33475.
- Momentum score is 0.0.
DCR BTC Technical Analysis
Decred Trading Volume:
The trading volume for Decred (DCR) over the past 24 hours has been significant, with approximately 3,277.04 BTC traded against DCR. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): DCR is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Decred is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for DCR-BTC is currently in the neutral zone, around 46.74744. This suggests that Decred is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
Decred (DCR-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the neutral RSI and significant trading volume are neutral signals for potential sideways movement.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.
