Decred Price Prediction 2022 – Will DCR Hit $200 Soon?
- Bullish DCR price prediction is $70.1 to $190.4.
- The DCR price might also reach $200.
- DCR bearish market price prediction for 2022 is $50.
In Decred’s (DCR) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and much other information about DCR to analyze the future movement of the cryptocurrency.
Decred Current Market Status
According to CoinGecko, the price of DCR is $58.09 with a 24-hour trading volume of $3,422,857 at the time of writing. However, DCR has decreased nearly 1.8% in the last 24 hours.
Moreover, DCR has a circulating supply of 13,784,627 DCR. Currently, DCR trades in cryptocurrency exchanges such as Binance, OKX, Bybit, Mandala Exchange, and KuCoin.
What is Decred (DCR)?
Decred project began in 2016 and soon after launched its mainnet. It was pioneered by Jake Yocom-Piatt and other software developers who had previously worked on btcsuite. It forked bitcoin to allow for a hybrid consensus system that combines Proof-of-Work (PoW) and Proof-of-Stake (PoS) into the novel Proof-of-Activity (PoA).
The goal was to improve the organisation and decentralisation of a cryptocurrency. To allow for checks and balances, 60% of block rewards are distributed to miners and 30% to stakeholders. The remaining 10% is a subsidy to an autonomous treasury that distributes funding to projects based on blockchain voting.
Decred (DCR) Price Prediction 2022
Decred holds the 105th position on CoinGecko right now. DCR price prediction 2022 is explained below with a weekly time frame.
The falling wedge is a bullish pattern. Together with the rising wedge formation, these two create a powerful pattern that signals a change in the trend direction. The falling wedge pattern occurs when the asset’s price is moving in an overall bullish trend before the price action corrects lower. The consolidation phase is used by the buyers to regroup and attract new buying interest, which will be used to defeat the bears and push the price action further higher.
Currently, DCR is in the range of $58.52. If the pattern continues, the price of DCR might reach the resistance level of $123.5 and $190.4. If the trend reverses, then the price of DCR may fall to $50.9.
Decred (DCR) Support and Resistance Level
The below chart shows the support and resistance level of DCR.
From the above daily time frame, it is clear the following are the resistance and support levels of DCR.
- Resistance Level 1 – $70.1
- Resistance Level 2 – $95.7
- Resistance Level 3 – $121.7
- Resistance Level 4 – $152
- Resistance Level 5 – $188.1
- Resistance Level 6 – $228.9
- Support Level – $50
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 $228.9.
Accordingly, if the investors turn against the crypto, the price of the DCR might plummet to almost $50, a bearish signal.
Decred Price Prediction 2022 — RVOL, MA, and RSI
The Relative Volume (RVOL) of 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 weaker participants in the current trend.
More so, the DCR’s Moving Average (MA) is shown in the chart above. Currently, DCR is in a bearish state. Notably, the DCR price lies below 50 MA (short-term), so it is DCRletely in a downward trend. Therefore, there is a possibility of a reversal trend of DCR at any time.
Meanwhile, the relative strength index (RSI) of the DCR is at level 36.30. This means that DCR is in a nearly oversold state. However, this means a major price reversal of DCR may occur in the upcoming days. So, traders need to trade carefully.
Decred Price Prediction 2022 — ADX, RVI
Let us now look at Decred’s Average Directional Index (ADX). 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. Currently, DCR lies in the range of 19.6, so it indicates a weak trend.
From the above chart, the Relative Volatility Index (RVI) of DCR. RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of DCR lies below the 50 levels, indicating that the direction of volatility is low. In fact, DCR’s RSI is at 36.30 level thus confirming a potential sell signal.
Comparison of DCR with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum, and Decred.
From the above chart, we can identify the trend of the ETH, BTC, and DCR is moving at the same level as the trend. This indicates that when the price of BTC increases or decreases, the price of ETH and DCR also increases or decreases respectively.
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 in 2022 is $190.4. On the other hand, the bearish DCR price prediction for 2022 is $50.
Furthermore, with the advancements and upgrades on the DCR ecosystem, the performance of DCR would help to reach above its current all-time high (ATH) $121 very soon. But, it might also reach $200 if the investors believe that DCR is a good investment in 2022.
FAQ
Decred is a blockchain network that supports DCR currency, which is designed to provide a cryptocurrency that is scalable and equally manageable as an alternative to Bitcoin.
DCR has listed on many crypto exchanges which include Binance, OKX, Bybit, Mandala Exchange, and KuCoin.
With the ongoing developments and upgrades within the DCR platform, it has a high possibility of reaching its ATH soon.
On Apr 17, 2021, 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 DCR 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 $280 by 2023.
Decred (DCR) price is expected to reach $350 by 2024.
Decred (DCR) price is expected to reach $500 by 2025.
Decred (DCR) price is expected to reach $720 by 2026.
Disclaimer: The opinion expressed in this chart solely author’s. It is not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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