Decred is a cryptocurrency that aims to solve the problems of Bitcoin. It builds its own blockchain, is more decentralized, and is designed so that every participant can have a stake in its future. Decred aims to be a long-term investment.
Cryptocurrencies have been on the rise lately, with many predicting that we will see a Bitcoin ETF (exchange traded fund) in the near future. When this happens, the price of Bitcoin will skyrocket and many would be left with a dilemma as to whether or not to buy in. What happens when the Bitcoin ETF is listed, or when the price of Bitcoin hits $300? Will this be the end of the crypto currency movement? To answer these questions we must first take a look at what Decred is and how it is used.
Cryptocurrencies are everywhere! More and more people are investing in cryptocurrencies. But what are crypto coins? Cryptocurrencies are virtual currencies that use cryptography to regulate and secure transactions. These currencies are originally ledger-based, meaning they are not backed by any government or central bank. Currently, the most popular cryptocurrency is Bitcoin.
- The range of bullish DCR price predictions is $150 to $255.
- The DCR price may potentially go up to $300.
- For 2021, the DCR pessimistic market price forecast is $95.
We utilize data, price trends, ADX, and other information about DCR to evaluate the cryptocurrency’s future movement in DCR price forecast 2021.
The Decred project started in 2016 and released its mainnet shortly after. Jake Yocom-Piatt and other software engineers who had previously worked on btcsuite pioneered it. It split bitcoin to allow for a hybrid consensus mechanism that blends Proof-of-Work (PoW) and Proof-of-Stake (PoS) into the new Proof-of-Activity (POA) protocol (PoA).
The aim was to enhance a cryptocurrency’s organization and decentralization. To ensure that checks and balances are in place, miners get 60% of block rewards and stakeholders receive 30%. The remaining 10% goes to a self-managed treasury that allocates funds to initiatives depending on blockchain voting.
Decred’s Current Market Situation (DCR)
The price of DCR is $113, according to Coingecko, with a 24-hour trading volume of $12,664,964 at the time of writing. DCR, on the other hand, has risen to 0.93 percent in the past 24 hours.
Furthermore, there are 13,129,331 DCR in circulation. DCR is currently traded on Binance, HitBTC, OKEx, Huobi Global, and BiONE, among other cryptocurrency exchanges.
Price Prediction for Decred (DCR) in 2021
On CoinGecko, Decred (DCR) is now ranked 59th. The price of DCR in 2021 is forecasted using a daily time period, as shown below.
Descending Triangle Pattern (DCR/USDT) (Source: Tradingview)
During downtrends, the descending triangle is most frequently observed and is generally taken as a negative indicator. In the descending triangle pattern, the rising triangle pattern is reversed.
Descending triangles signal to investors and traders that selling are more aggressive than buyers as the market continues to reach lower highs. The pattern is complete when the price breaks out of the triangle in the direction of the general trend.
A descending triangle may be bullish or negative, contrary to common perception. A regular descending triangle pattern is considered a bearish chart pattern in the past. On the other side, a descending triangle pattern may be bullish.
DCR is now trading at $113. Following that, DCR may continue to decline or increase, depending on the breakout direction. With this trend, DCR may be on the verge of breaking over the $155 resistance level. If the trend changes, DCR’s price may drop to $95.
Support and Resistance Level for Decred (DCR)
Decred’s support and resistance levels are shown in the graph below (DCR).
Support and Resistance Levels for DCR/USDT (Source: Trading view)
According to the aforementioned chart, the resistance and support levels for DCR are as follows.
- $155 is the first level of resistance.
- $188 for Level 2 Resistance
- $255 — Level 3 Resistance
- Level 1 Support – $95
- Level 2 Support – $70
- Level 3 Support – $45
DCR’s negative performance during the preceding month is shown in the chart. This trend, however, will shortly hit the $155 resistance level. DCR, on the other hand, may fall to $95 if the trend reverses, signaling a negative indication.
Average Directional Index Decred (DCR) (ADX)
Now let’s have a look at DCR’s ADVANCED DIRECTIONAL INDEX (ADX). The ADX, in particular, aids traders in assessing the strength of a trend as opposed to its direction. It may also be used to see whether the market is shifting or if a new trend is forming. However, it is connected to the Directional Movement Index (DMI).
The oscillator also has a range of 0 to 100. Furthermore, a high number indicates a strong trend, while a low value indicates a weak trend. It’s also often used in conjunction with directional indicators.
The ADX of DCR is seen above, with a range of 31.11, which shows a strong trend.
The DCR is one of the best cryptos to invest in for the long run. Furthermore, until the breakthrough direction is verified, DCR price forecast will remain bearish or bullish. However, there’s a strong possibility it’ll hit $255 this year. This, however, will only happen if a number of prior psychological obstacles are overcome.
Furthermore, as the DCR ecosystem evolves and improves, DCR’s performance will skyrocket, hitting $255 very soon. However, if investors think DCR is a solid investment in 2021, it might reach $300.
Disclaimer: The views stated in this graph are entirely those of the author. It should not be construed as investment advice. Before investing, TheNewsCrypto staff advises everyone to conduct their own research.
We’re excited because we think Decred is a cryptocurrency to watch. In this post we’ll explain why, when, and how we think the price of DCR is going to increase.. Read more about cvc price prediction 2025 and let us know what you think.
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