Decred Crypto Price Levels

Today Decred (DCR) crypto exploded in price by over 37.5% as a huge influx of trade volume came in around 9am BST. Another prime example of “don’t chase green” as the price has already corrected by 22.2%.

According to Coinmarketcap Decred crypto is now ranked #90 amongst other cryptocurrencies and has a market capital of $373 million.

Will Decred crypto recover? DCR is available on Binance.

Cryptoassets are a highly volatile unregulated investment product.

Decred (DCR) Crypto Price Prediction 2022

The price of Decred rocketed up to $32.90 before harshly correcting back down to current price levels of $26. At the time of writing this article Decred crypto is hovering above a key Fibonacci support trendline at the 0.786 level.

It seems as if DCR has been able to consolidate at this current price range and may be able to bounce back up to the 0.618 Fibb level of $27.20 and retest as a resistance level.

Decred Crypto Fibb Levels

DCR/TetherUS – 30 Minute Time Frame.

The above chart indicates a surge of volume which resulted in Decred (DCR) crypto becoming overbought on the relative strength index reading in at 91.83. This is extremely high and usually a bearish reversal or correction takes place after such a euphoric pump.

If Decred crypto can consolidate at the current price levels there is a good chance the bulls may be able to push the price of DCR back up to $27.20. In addition to this, the likelihood of Decred going back to $33 seems rather slim as every candle above $28.20 has a very large wick on the body which reflects large selling pressure.

Decred Crypto RSI Levels

DCR/TetherUS – 4 Hour Time Frame.

The last 4 times Decred (DCR) crypto was overbought on the relative strength index, a bearish reversal took place followed by a short consolidation phase then a downtrend. We could potentially see the same pattern playing out once again from this very anomalous looking pump.

Zooming out on the charts, Decred crypto is still down by 89% from the all-time high of $249 set on the 17th April 2021. The sentiment for Decred (DCR) is still very much bearish as we delve deeper into crypto winter and it is extremely unlikely all-time highs will be seen this year or even next year.

Decred (DCR) Crypto Video Analysis

If you think Decred (DCR) could make a strong addition to your crypto portfolio, the best place to trade this particular cryptocurrency is on Binance. However, a recent new crypto known as Tamadoge could potentially offer greater returns in the next few weeks as it will be getting deployed on a centralized exchange following its recent successful presale which raised a whopping $19 million.

According to the official Tamadoge Twitter page @Tamadogecoin the announcement of which CEX it it will launch on, as well as the date and time will occur tomorrow on the 23rd September 12:00 BST.

Cryptoassets are a highly volatile unregulated investment product.

Related:

Will Tamadoge 100x? Join Initial Exchange Offering on OKX

Our Rating

Tamadoge
  • '10x - 50x Potential' - CNBC Report
  • Deflationary, Low Supply - 2 Billion
  • Move to Earn, Metaverse Integration on Roadmap
  • NFT Doge Pets - Potential for Mass Adoption
  • Upcoming Listing on OKX - Sept 27th
Tamadoge