DCR USDT Decred Technical Analysis

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By Frans van Elst

Decred logo 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 27, 2024, Decred is trading at approximately 21.55 USDT. Let’s dive into the detailed price action for DCR-USDT:

Discover Decred’s (DCRUSDT) positive momentum at 21.55 USDT through bullish technical analysis, emphasizing strong support and promising indicators.

Metric Value
Open (O) 21.34
High (H) 21.88
Low (L) 20.81
Close (C) 21.55
Volume (C) 55,351.20
  • Open (O): The opening price for today’s trading session was approximately 21.34 USDT.
  • High (H): Decred reached a daily high of around 21.88 USDT.
  • Low (L): The daily low for DCR-USDT was approximately 20.81 USDT.
  • Close (C): At the time of analysis, Decred is trading near its daily close of 21.55 USDT.
Metric Value
1D Change (%) 0.98%
3D Change (%) 6.79%
7D Change (%) 1.41%
30D Change (%) 2.18%
90D Change (%) -0.83%
YTD Change (%) 19.59%

Over the past three days, DCRUSDT has risen by approximately 6.79%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 1.41%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with DCRUSDT maintaining an upward trend of approximately 2.18%, despite intermittent fluctuations. Examining the last 90 days, DCRUSDT has witnessed substantial fall of approximately -0.83%, reflecting strong long-term confidence. Year-to-date, DCRUSDT has steadily increased by around 19.59%, 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 0.7956.
  • Momentum score is 0.00093.

DCR USDT Technical Analysis

Decred Trading Volume:

The trading volume for Decred (DCR) over the past 24 hours has been insignificant, with approximately 55,351.20 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 above the 50-day SMA, indicating short-term bullish momentum.
  • 200-day Simple Moving Average (SMA): Decred is also trading above the 200-day SMA, indicating a positive long-term outlook.

Relative Strength Index (RSI):

  • The RSI30 for DCR-USDT is currently in the neutral zone, around 50.63742. This suggests that Decred is in range-bound territory.

Analysis from TradingView:

Our Key Takeaways:

Decred (DCR-USDT) is currently exhibiting signs of short-term bullish 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 neutral RSI and insignificant trading volume are neutral signals for potential sideways movement.

Discover Decred’s (DCRUSDT) positive momentum at 21.55 USDT through bullish technical analysis, emphasizing strong support and promising indicators.

Missing our detailed breakdown on DCR BTC Decred Technical Analysis would be a lost opportunity if you found value in 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.

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