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In the technical analysis for Decred, we will see DCR is a hybrid Proof-of-work or Proof-of-stake blockchain ecosystem. It is hack-free with multiple layers of transaction safety. It is an adaptable platform that aids users in technology innovations, resists hard-forks, and supports new & upgraded technologies in the long-run. Furthermore, it is a sustainable and self-financed flexible contractor model. DCR is its prime native token.
Past Performance
On March 24, 2021, DCR opened at $155.81. As of March 30, 2021, the closing price of DCR was $180.38. Thus, in the past week, the DCR price has surged by approximately 16%. In the last 24 hours, DCR has traded between $176.99-$181.20.
https://www.tradingview.com/x/rEnrghof/
Day-Ahead and Tomorrow
Currently, DCR is trading at $179.51. Thus, the price has decreased from the opening price of $181.01. Hence, the market looks bearish.
The MACD and signal lines are negative. Thus, the overall market momentum is bearish. However, a bullish crossover by the MACD line over the signal line has occurred. Thus, we can expect an intermittent price rise amidst a bearish trend.
The OBV indicator has started falling. Thus, selling volumes are slowly overtaking the DCR market. Hence, we can expect a price pullback. The price is likely to fall further.
Currently, the RSI is at 46%. It faced a bullish swing rejection at 35%. However, selling activity is still on the higher side. Hence, we can expect the price to decline further.
DCR Technical Analysis
The technical analysis price has fallen below the Fibonacci pivot point of $179.52. It may soon fall below the first support level of $177.91. If the bearish forces remain strong throughout the day, we can expect the price to fall below the subsequent support levels of $176.92 and $175.31, respectively.
The price has tested and fallen below the 38.2% FIB retracement level of $179.57. By day close, if the price does not retest and break out of the 23.6% FIB retracement level of $180.21, then probably a price downtrend has set in. In that case, we can expect the price dip to continue tomorrow as well.