In this Drep technical analysis, we will examine the current price action, trading volume, key levels and indicators for DREP-USDT. Drep (DREP) is a decentralized platform that utilizes blockchain technology to facilitate the creation and trading of digital assets. It offers a secure and transparent environment for users to buy, sell, and trade their digital assets with ease. With Drep, users can easily manage their digital asset portfolios and access a wide range of features such as real-time market data, advanced analytics, and more.
Drep Price Overview:
As of May 20, 2024, Drep is trading at approximately 0.0256 USDT. Let’s dive into the detailed price action for DREP-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.0319 |
| High (H) | 0.035 |
| Low (L) | 0.025 |
| Close (C) | 0.0256 |
| Volume (C) | 18,133,277.00 |
- Open (O): The opening price for today’s trading session was approximately 0.0319 USDT.
- High (H): Drep reached a daily high of around 0.035 USDT.
- Low (L): The daily low for DREP-USDT was approximately 0.025 USDT.
- Close (C): At the time of analysis, Drep is trading near its daily close of 0.0256 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -19.75% |
| 3D Change (%) | -61.39% |
| 7D Change (%) | -67.64% |
| 30D Change (%) | -91.69% |
| 90D Change (%) | -90.69% |
| YTD Change (%) | -90.95% |
Over the past three days, DREPUSDT has dropped by approximately -61.39%, showcasing increased market volatility. Throughout the last week, it continued to drop, with a loss of around -67.64%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with DREPUSDT maintaining a downward trend of approximately -91.69%, despite intermittent fluctuations. Examining the last 90 days, DREPUSDT has witnessed substantial decline of approximately -90.69%, reflecting strong long-term confidence. Year-to-date, DREPUSDT has steadily depreciated by around -90.95%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Drep Live Chart:
You can access a live price chart for DREP-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 2.98369.
- Momentum score is -0.94053.
DREP USDT Technical Analysis
Drep Trading Volume:
The trading volume for Drep (DREP) over the past 24 hours has been insignificant, with approximately 18,133,277.00 USDT traded against DREP. 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): DREP is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Drep is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for DREP-USDT is currently in the low zone, around 32.0297. This suggests that Drep is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Drep (DREP-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.
Consider bearish sentiment for Drep (DREPUSDT) at 2.56e-02 USDT with technical analysis, highlighting weakened support and cautionary indicators.
For a deeper dive into the subject, don’t miss our comprehensive analysis on DREP BTC Drep Technical Analysis if you found this post intriguing.
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.