Decred (DCR) Price Prediction 2022 – Will DCR Hit $200 Soon?
- Bullish DCR price prediction for 2022 is $42.7 to $142.6.
- The DCR price will also reach $200 soon.
- Bearish DCR price prediction for 2022 is $20.6.
In Decred (DCR) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and other information about DCR to analyze the future movement of the cryptocurrency.
Decred (DCR) Current Market Status
According to CoinGecko, the price of Decred (DCR) is $26.49 with a 24-hour trading volume of $4,759,622 at the time of writing. However, DCR has decreased to 1.98% in the last 24 hours.
Moreover, Decred (DCR) has a circulating supply of 14,435,755 DCR. Currently, DCR trades in cryptocurrency exchanges such as Binance, BKEX, OKX, MEXC, and Pionex.
What is Decred (DCR)?
Decred (DCR) is the native cryptocurrency of the Decred blockchain. Decred is an open-source blockchain built on a code similar to that of the Bitcoin blockchain. The mainnet of Decred was launched in 2016.
Decred was launched to solve the loopholes in the blockchain governance and rewards system of Bitcoin. Thus, the project launched its native governance system, Politeia, to grant rights to the Decred users in the project’s decision-making process.
Decred blockchain adopts a hybrid consensus model: proof-of-stake (PoS) and proof-of-work (PoW) mechanisms with proof-of-activity (PoA). Like Bitcoin, the supply cap of Decred (DCR) is fixed at 21 million.
Decred (DCR) Price Prediction 2022
Decred (DCR) holds the 104th position on CoinGecko right now. DCR price prediction 2022 is explained below with a daily time frame.
The above chart of Decred (DCR) laid out a descending channel pattern, also known as the falling channel. A descending channel is formed by two parallel trendlines. The upper trendline, which joins the highs, and the lower trendline, which joins the lows, run parallelly downwards. This pattern is the characteristic of a bearish market.
Currently, Decred (DCR) is at $26.49. If the pattern continues, the price of DCR might reach the resistance level of $42.9, and $74.1. If the trend reverses, then the price of DCR may fall to $22.1.
Decred (DCR) Support and Resistance Levels
The chart below shows the support and resistance levels of Decred (DCR).
From the above daily time frame, we can clearly interpret the following as the resistance and support levels for Decred (DCR).
| Resistance Level 1 | $42.7 |
| Resistance Level 2 | $85.3 |
| Resistance Level 3 | $142.6 |
| Support Level | $20.6 |
The charts show that DCR has performed a bullish trend over the past month. If this trend continues, DCR might run along with the bulls overtaking its resistance level at $142.6.
Accordingly, if the investors turn against the crypto, the price of the DCR might plummet to almost $20.6, a bearish signal.
Decred (DCR) Price Prediction 2022 — RVOL, MA, and RSI
The Relative Volume (RVOL) of Decred (DCR) is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of DCR lies below the cutoff line, indicating weak participants in the current trend.
Moreover, the Moving Average (MA) of Decred (DCR) is shown in the above chart. Notably, the DCR price lies above 50 MA (short-term), so it is completely in an upward trend. Currently, DCR is in a bullish state. There is a possibility of a reversal trend of DCR at any time.
Meanwhile, the relative strength index (RSI) of the DCR is at a level of 57.56. This means that DCR is nearly in an overbought state. However, this gives confidence to the traders to trade without any fear.
Decred (DCR) Price Prediction 2022 — ADX, RVI
Let us now look at the Average Directional Index (ADX) of Decred (DCR). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of Decred (DCR). Currently, DCR lies in the range of 38.1, indicating a very strong trend.
From the above chart, the Relative Volatility Index (RVI) of Decred (DCR). RVI measures the constant deviation of price changes over a period of time. The RVI of DCR lies above 50, indicating high volatility. In fact, DCR’s RSI is at 57.56, thus confirming a potential buy signal.
Comparison of DCR with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum, and Decred (DCR).
From the above chart, we can interpret ETH, BTC, and DCR are moving in a similar trend. This indicates that when the price of BTC or ETH increases or decreases, the price of DCR also increases or decreases respectively.
Decred (DCR) Price Prediction 2023
If the declining price action completely slows down in momentum and the trend reverses, Decred (DCR) might probably attain $310 by 2023.
Decred (DCR) Price Prediction 2024
With several upgrades in the network, Decred (DCR) might enter a bullish trajectory. If the coin grabs the attention of major investors, DCR might rally to hit $400 by 2024.
Decred (DCR) Price Prediction 2025
If Decred (DCR) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 3 years, DCR would rally to hit $515.
Decred (DCR) Price Prediction 2026
If Decred (DCR) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 4 years, DCR would rally to hit $605.
Decred (DCR) Price Prediction 2027
If Decred (DCR) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 5 years, DCR would rally to hit $720.
Decred (DCR) Price Prediction 2028
If Decred (DCR) holds up a strong stance as a better investment option for the next 6 years, it might witness significant price rallies. Thus, by 2028, DCR would hit $800.
Decred (DCR) Price Prediction 2029
If investors flock in and continue to place their bets on Decred (DCR), it would witness major spikes. DCR might hit $905 by 2029.
Decred (DCR) Price Prediction 2030
With greater advancements in the Decred ecosystem, the crypto community might continue to invest in Decred (DCR) for the next 8 years and drive significant price rallies for the token. Hence, Decred (DCR) might hit $1010 by 2030.
Conclusion
With continuous improvements in the Decred network, we can say that 2022 is a good year for DCR. For this reason, the bullish price prediction of Decred (DCR) in 2022 is $142.6. On the other hand, the bearish price prediction of Decred (DCR) for 2022 is $20.6.
Furthermore, with the advancements and upgrades in the Decred ecosystem, the performance of Decred (DCR) might hit $200 gaining investors’ attention. It would also rise to reach above its all-time high (ATH) of $247.35 in the near future.
FAQ
Decred (DCR) is the native cryptocurrency of the Decred blockchain. Decred is an open-source blockchain built with a code similar to that of the bitcoin blockchain. It adopts a hybrid consensus model: proof-of-stake (PoS) and proof-of-mining (PoW).
Decred (DCR) has been listed on many crypto exchanges which include Binance, BKEX, OKX, MEXC, and Pionex.
With the ongoing developments and upgrades within the Decred platform, Decred (DCR) has a high possibility of reaching its ATH soon.
On April 17, 2021, Decred (DCR) reached its new all-time high (ATH) of $247.35.
Decred (DCR) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Decred in the past few months, DCR is considered a good investment in 2022.
Decred (DCR) is one of the active cryptos that continues to maintain its Bullish state. Eventually, if this bullish trend continues then Decred (DCR) will hit $200 soon.
Decred (DCR) price is expected to reach $310 by 2023.
Decred (DCR) price is expected to reach $400 by 2024.
Decred (DCR) price is expected to reach $515 by 2025.
Decred (DCR) price is expected to reach $605 by 2026.
Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
