In this Decred technical analysis, we will examine the current price action, trading volume, key levels and indicators for DCR-USDT. Decred is a blockchain-based cryptocurrency that prioritizes decentralization and community governance. It utilizes a novel consensus algorithm called Proof of Activity (PoA) to ensure security and scalability. With its focus on privacy, security, and usability, Decred aims to provide an alternative to traditional financial systems for individuals and institutions alike.
Decred Price Overview:
As of May 14, 2024, Decred is trading at approximately 17.69 USDT. Let’s dive into the detailed price action for DCR-USDT:
| Metric | Value |
|---|---|
| Open (O) | 18.48 |
| High (H) | 18.68 |
| Low (L) | 17.57 |
| Close (C) | 17.69 |
| Volume (C) | 33,261.81 |
- Open (O): The opening price for today’s trading session was approximately 18.48 USDT.
- High (H): Decred reached a daily high of around 18.68 USDT.
- Low (L): The daily low for DCR-USDT was approximately 17.57 USDT.
- Close (C): At the time of analysis, Decred is trading near its daily close of 17.69 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -4.27% |
| 3D Change (%) | -6.50% |
| 7D Change (%) | -16.52% |
| 30D Change (%) | -13.50% |
| 90D Change (%) | 6.50% |
| YTD Change (%) | -1.83% |
Over the past three days, DCRUSDT has dropped by approximately -6.50%, showcasing increased market volatility. Throughout the last week, it continued to drop, with a loss of around -16.52%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with DCRUSDT maintaining a downward trend of approximately -13.50%, despite intermittent fluctuations. Examining the last 90 days, DCRUSDT has witnessed substantial rise of approximately 6.50%, reflecting strong long-term confidence. Year-to-date, DCRUSDT has steadily dropped by around -1.83%, 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-USDT 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 0.50602.
- Momentum score is -0.24012.
DCR USDT Technical Analysis
Decred Trading Volume:
The trading volume for Decred (DCR) over the past 24 hours has been insignificant, with approximately 33,261.81 USDT 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-USDT is currently in the low zone, around 41.20489. This suggests that Decred is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Decred (DCR-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Delve into potential challenges for Decred (DCRUSDT) at 17.69 USDT, guided by bearish technical analysis emphasizing weakened support and cautionary indicators.
Discover even more by checking out our comprehensive analysis on DCR BTC Decred Technical Analysis — a perfect follow-up if you enjoyed this post.
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.