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DCR prevents blockchain technology and prevents monopoly in the decentralized structure. Decered Protocol makes sure that DCR token holders have equal voting rights and have the same decision-making power. Let us look at the technical analysis for DCR.
Past Performance
On July 07, 2021, DCR opened at $139.60. On July 13, 2021, DCR closed at $123.49. Thus, in the past week, the price has decreased by approximately 11%. In the last 24 hours, DCR has traded between $119.15 – $128.65.
https://www.tradingview.com/x/kchv0ql4/
Day Ahead And Tomorrow
Currently, DCR is trading at $119.53. The price is approximately 6.50% down from the day’s opening price of $123.49. Thus, it seems like bears have taken control of the market. Moreover, the $116 level has acted as strong support since the 19th May crypto crash. Any breakdown from this level will confirm the bear trend.
On the daily chart, the MACD and signal lines could not cross the zero range. Now, a bearish crossover by the MACD line over the signal line has occurred. Thus, the overall market momentum looks bearish. Hence, the DCR price may decline further for the rest of the day.
Currently, the RSI indicator is at 42%. It faced rejection at 50.84% and has fallen straight to this level. Thus, it indicates that the selling pressure is high in the market. Moreover, the RSI is forming a bearish divergence. We have to wait and watch if buying pressures become strong enough to bring about a bearish trend reversal.
DCR Technical Analysis
The price is trading below the second Fibonacci pivot point of $118.58. If the bears remain strong till day end, then the price is likely to fall below the first, second, and third support levels of $110, $99.66, and $85.86, respectively.
However, if the buyers take over the market, then the first resistance level price has to break is $126.30. Once this pivot level of $126.30 is broken, the price will highlight the next FIB resistance level of $135.85.